This digital tool, which became available on the 6th of April 2023, marks a significant step forward in modernising tax administration processes. With this new online service, users can seamlessly amend or cancel an existing PSA, providing a more flexible and accessible platform for managing these agreements.
"This shift to digital services aligns with HMRC's efforts to automate all tax-related operations!"
HMRC has updated its guidelines to facilitate the transition and ensure users can take full advantage of the new online service. These revised instructions include comprehensive support for applying for a PSA, as well as for amending or cancelling a PSA using the new digital tools. It's important to note that when accessing the online service, the employer's PAYE reference is required.
As we move further into the digital age, initiatives like this from HMRC are set to become increasingly commonplace. By embracing these changes, businesses can expect to see improved efficiency, accuracy, and accessibility in managing their tax affairs.
As with all things 'new' from HMRC, fingers crossed it works as it should.
Until next time ...
ROGER EDDOWES Business Godparent
Would you like to know more?
If anything I've written in this blog post resonates with you and you'd like to discover more about PAYE Settlement Agreements and how to work with them on the new PSA service, it may be a great idea to call me on 01908 774320 and let's see how I can help.
Don't forget to stay updated with our daily social media posts on Facebook.
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
No unauthorised use, duplication, distribution or modification to any original content contained within this blog is permitted without prior written permission of the author. All other trademarks and registered names are acknowledged.