Simplifying employee benefits taxation

UK PAYE Settlement Agreement (PSA)

We assist businesses in streamlining the taxation of minor, irregular, or infrequent employee benefits through a PAYE Settlement Agreement (PSA). A PSA allows employers to pay tax and National Insurance contributions (NICs) on certain non-cash benefits, such as staff gifts or trivial perks, in a single annual payment to HMRC. This simplifies the process and reduces administrative burdens for employers.

LIMES international offers full support with PSAs, including helping with the application process, calculating tax and NICs, and ensuring timely submission and payment to HMRC. Using a PSA simplifies reporting by consolidating benefits into one payment, reduces administrative tasks associated with managing minor benefits, and ensures compliance with HMRC regulations, avoiding penalties for incorrect or late filings. To ensure your PSA is in place, applications must be submitted by July 5th for the previous tax year, with payment to HMRC due by October 22nd.