30 September 2024
A PAYE Settlement Agreements (PSA) allows an employer to cover the tax and National Insurance (NI) liability on minor, irregular or impracticable expenses or benefits that have been provided to employees.
Members can access the PSA Factsheet that provides guidance, helpful information and links to key resources.
Payments of Tax & NI
You must pay any owed tax and NI to HMRC by 22 October (19 October if not paying by electronic transfer) after the tax year the PSA applies to. You may of course, pay earlier than this date if you so wish.
If you don’t pay, or pay your owed liabilities after the above dates, you may be fined or charged interest.
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