© 2018 by Hansuke Consulting Limited

 

Hansuke Consulting Limited is registered in England and Wales number 10136213 with its registered office at: 71-75 Shelton Street, London WC2H 9JQ. Hansuke Consulting Limited is an accredited and regulated member firm of the Institute of Chartered Accountants in England and Wales (ICAEW).

 

In accordance with the disclosure requirements of the Provision of Services Regulations 2009, our professional indemnity insurer is International General Insurance Co (UK) Limited, of 133 Houndsditch London EC3A 7AH. The territorial coverage is worldwide excluding professional business carried out from an office in the United States of America or Canada and excludes any action for a claim brought in any court in the United States of America or Canada.

Alerts

PAYE Settlement Agreement - Employer Taxes

Employer reporting requirements 2016/2017

3 July 2017

Background

 

A PSA is a contract between an employer and HMRC where the employer agrees to meet the tax (on a grossed up basis) and NIC on behalf of their employees for certain benefits and expenses.  Only benefits that are minor, irregular or impractical to operate PAYE on can be included.

The PSA effectively allows employers to provide smaller or general benefits to its employees and not have their employees taxed on the benefit.

 

Deadlines

Employers are required to sign up (or make any changes) to this contract on or before the 6 July following the end of the tax year to which it relates.

Calculations of the tax and NIC are typically due to HMRC by 31 July, however, this is not a statutory deadline and, in our experience, submissions often take place throughout August.  Subsequent payment of the tax and NIC is due by 22 October.

Contact us

Ali Kazimi

Managing Director

alikazimi@hansuke.co.uk

Tel: +44 (0) 203 865 0626

Julia Ascott

Principal

juliaascott@hansuke.co.uk

Tel: +44 (0) 1277 631 225