Taxes Consolidation Act 1997 section 525

Returns and collection of appropriate tax

Section 525 sets out the obligations of accountable persons to file returns and remit professional services withholding tax (PSWT) to the Collector-General.

• An accountable person must remit all PSWT deducted from relevant payments to the Collector-General within 23 days of the end of each income tax month, accompanied by a return in the prescribed form.
• A return must be filed for every income tax month, even where no relevant payments were made, and must be submitted electronically and include a declaration that it is correct and complete.
• An annual return must be filed by 23 February following each tax year, detailing all PSWT liable to be deducted, all PSWT remitted, and any PSWT still owed.
• The tax collection and recovery procedures that apply to relevant contracts tax under Chapter 2 of Part 18 also apply to the collection and recovery of PSWT.