HM Revenue & Customs HMRC has released new guidance regarding penalties which will apply where U.K. tax and National Insurance contributions NIC withheld under the U.K. system of Pay As You Earn PAYE are paid over late to HMRC. These new penalties apply in respect of withholding due for the U.K. tax year 2010-11. The 2010-2011 tax year runs from 6 April 2010 to 5 April 2011. The existing rules still apply to any payments that should have been made in respect of earlier tax years. Therefore, the new rules will apply to in-year payments due from May 2010 onwards. The new rules will also apply to the Class 1A NIC due on benefits-in-kind for the 2010-2011 tax year that must be paid no later than 6 July 2011.