As of 06/04/2017 the University are responsible for identifying and determining the status of organisations trading as ‘Personal Service Company’ (PCS’s) in accordance with the HMRC changes to the Intermediaries Legislation (Chapter 8 Part 2 Income Taxes (Earnings and Pensions) Act 2003 (“ITEPA 2003”). The consequences of the change in legislation for organisations identified as PSCs is that the University is required to deduct the relevant amounts of income tax and employees national insurance contributions from invoices. In order to do this, the PSC will need to be set up on the VAM payroll via completion of the attached ‘Personal Service Company’ form.
Personal Services Company (PSC) PSC Starter Form
PSC Payment Request Form PSC payment request form.