From May 2010, the Revenue have been able to impose penalties on businesses that do not pay their PAYE on time. The penalty can be up to five per cent of the amount that is due.

The requirement is that employers must pay their PAYE and National Insurance contributions by the 19^th of each month, or the 22^nd if paying electronically. For smaller companies there is a Quarterly scheme but these dates are the same for the end of each quarter. My recommendation here is if you have a payroll then mark the 19^th of each month in your diary to ensure that you do not incur any penalties or interest.