CH153510 - Penalties for Failure to Pay on Time: Rules for specific taxes: Bank Payroll Tax (BPT): Overview
»Ê¹ÚÌåÓýapp penalty rules for failure to pay Bank Payroll Tax (BPT) on time start on 31 August 2010 and apply to the failure of a person to make payments of BPT in full and on time.
To decide whether a person is liable to a penalty you need to know the due date and the penalty date.
»Ê¹ÚÌåÓýapp due date for an amount of BPT shown on a BPT return is 31 August 2010.
»Ê¹ÚÌåÓýapp penalty date is normally the day after the due date, but see CH153700 where the BPT is payable under an assessment or determination or as a result of the amendment or correction of a BPT return.
A person is liable to
- an initial penalty if an amount of BPT is unpaid at the penalty date, and
- two further penalties if an amount remains unpaid 5 and 11 months after the penalty date.