If you do not yet have a PSA and you miss this deadline, it is possible to make a voluntary disclosure and settlement for items that you would otherwise have included in PPE. However, in certain circumstances, HMRC may impose penalties and collect interest on amounts so paid. The employer taxes the items listed in the PPE at the marginal tax rates of employees. For Scottish taxpayers, the corresponding Scottish income tax rate should be used. Items included in PPE should not be accounted for separately, for example. B through the pay slip or in the employee`s P11D. Instead of being imposed on the employee through the P11D procedure, they are imposed by this annual statement on the employer. Instead of being due to the Class 1A NIC through P11D(b), the value of benefits is subject to Class 1B social security contributions (NCI). From April 2018, the annual PPE renewal process has been simplified, so employers are not required to agree in advance on PPE with HMRC each year if the categories remain the same. According to the agreement, PSA will remain in force until either the employer or HMRC cancels or amends it.

The deadline for filing PSA calculations of income tax and NCI with HMRC is set out in the agreement and generally expires on 31 July following the end of the fiscal year. The deadline for payment of PSA`s liabilities is October 22 following the end of the fiscal year or October 19 if the employer does not pay electronically. .

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