HMRC update surrounding PSA payments published
03 October 2019
HMRC has published important information relating to the nature of PAYE Settlement Agreement (PSA) payments.
HMRC has advised customers that, even if you have not yet received confirmation of the PSA figure to pay the tax authority, you should pay any figures relating to tax and National Insurance (NI) that you have calculated by 22 October 2019, to avoid incurring any charges.
A reminder is also provided to quote your customer account reference number for easy allocation of funds, and that this can be located on the PSA confirmation letter.
You may be fined or charged interest if you do not pay or your payment is late.
Further information can be found at: GOV.UK.
If you are unsure about the action to take, HMRC’s tax agent blog highlights that you can contact the PSA team directly on 0300 322 7077.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information. Download the CIPP's Payroll: Need to know - your guide to payroll legislation and reporting for the most up to date data.