May 16 2014.

HM Revenue & Customs (HMRC) now charges interest on any late PAYE and payments. For employers that pay monthly, the first payment of 2014 to 2015 is due on the 19th of May (or 22nd of May for employers who pay electronically).

To avoid an interest charge employers should pay by the due date any deductions reported on an Employer Payment Submission (EPS).

HMRC will charge interest on all unpaid:
•PAYE tax, Class 1 National Insurance and Student Loan deductions, including specified charges (estimates HMRC makes in the absence of a PAYE submission)
•Construction Industry Scheme charges
•In-year late filing penalties, which start from October 2014
•In-year late payment penalties, which will be charged automatically from April 2015

HMRC will charge interest daily, from the date a payment is due and payable to the date it is paid in full.

For more information CLICK HERE.