Perspectives

PSA Wizard

A better way to PSA

Transform your PAYE Settlement Agreement (PSA) delivery model with Deloitte’s PSA Wizard, an innovative tax technology based tool.

Launch of Machine Learning - April 2018

By introducing Machine Learning into its data classification process, the Deloitte PSA Wizard’s journey to automate complex decisions has taken a step further. The new development will further support you to enhance your PSA delivery model, by helping to efficiently identify which data may be taxable and non-taxable.

Deloitte PSA Wizard is a market leading technology solution which automates the data classification process, driving the review of significant volumes of data which would be time consuming and, in some cases, impossible using a line by line or traditional excel based classification process.

By using a supervised Machine Learning method, the PSA Wizard studies tax categorised data (‘training data’) and learns tax rules and patterns which have influenced the classification.

Producing a compliant PSA computation often requires a choice. Either:

  1. Taking a detailed approach to the review
    The review can be performed by categorising large volumes of employee expense and benefit data to identify taxable amounts using line by line manual analysis.
  2. Taking a higher level approach, but potentially overstating taxable amounts 
    The alternative is to take some broad reasonable positions on data which has already been categorised. This can lead to overpaying because taxable expenditure can be overstated, or all available reliefs and exemptions are not claimed. 

Either route can use up valuable time and money or create a compliance risk for your business.


There is a better way...

With an inbuilt PSA specific dictionary of search terms and now the option of using a Machine Learning approach, Deloitte’s PSA Wizard enhances your PSA delivery model by helping to quickly and efficiently decide which data may be taxable and which may be non-taxable. The PSA Wizard delivers a number of benefits:

Find out more

For more details on how the PSA Wizard can help transform your PSA process:

Request a demo

Download the PSA flyer for more information

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