Paye Settlement Agreement (PSA) is a scheme that enables employers to settle tax and National Insurance contributions (NICs) for their employees, which are not covered by Pay As You Earn (PAYE) tax. With a PSA, employers can simplify the process of paying taxes for their employees, saving time and reducing administrative efforts.

If you are an employer and have any questions regarding PSA, you can call the HMRC PSA phone number to get in touch with a PSA specialist. The PSA helpline can help you with any queries, such as how to set up a PSA, what taxes to include in a PSA, the deadline for submission, and what to do if you need to amend or cancel a PSA.

To make a PSA, you must submit an agreement to HMRC by 5 July following the end of the tax year for which the PSA is relevant. The PSA covers items such as work-related expenses and benefits for employees, which are not covered by PAYE tax. This includes items such as staff entertaining, car parking, and subscriptions to professional bodies.

The PSA scheme is voluntary, and employers do not have to take part in it. However, those who choose to participate can benefit from a streamlined tax process and avoid penalties for incorrect tax payments. PSA agreements are also useful for employers who provide their staff with non-cash benefits, such as medical insurance and gym memberships.

As an employer, you can contact the PSA helpline by phone or email. The PSA phone number is 0300 200 3500, and you can also reach the helpline by email at psateam@hmrc.gov.uk. The HMRC PSA team is available from Monday to Friday, 8 am to 4 pm. The PSA helpline is also closed on weekends and bank holidays.

In summary, PSA is a useful scheme that simplifies the process of paying tax for employees. If you have any queries regarding PSA, you can contact the HMRC PSA phone number to speak to a PSA specialist. With the right knowledge and assistance, employers can easily set up and manage a PSA and ensure that their employees are correctly taxed.