It could pay to get the details right
Despite all of the tax administration changes which have come in (and are planned) – such as personal tax accounts and tax return pre-population measures – the old option of paying a self-assessment liability via the PAYE code still exists.
However, there have been a number of changes to the policy over recent years. This article sums up the key points and will help ensure you and your clients are fully aware of how it now works.
Essentials – the option can only be used if:
The amount of income received/PAYE paid is relevant to whether the option can be used. The PAYE code option can’t be used if:
Choose a self-assessment payment method.
Read ACCA’s self-assessment edition of In Practice (December 2017).