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PRS minimum payments 

What is the minimum payment amount?

The minimum payable amount of royalties for all UK members is £30.

The minimum payable amount of royalties for all overseas members is £60.

When did this come into effect?

The minimum payment for UK members was raised from £1 to £30 in October 2006.

The minimum payment for overseas members was raised from £10 to £60 in July 2006.

Why?

By making these changes, we minimise the administration costs and maximise the amount of money that you receive.

Payments for overseas members are subject to bank charges so by only sending payments when they have reached £60, members are receiving more money overall.

See below for an example of how much overseas members can save:

Previous PRS for Music royalty payments

Royalty payment earned* TAPS (bank) charge Total royalty payment due
April £15 £3.52 £11.48
July £15 £3.52 £11.48
October £15 £3.52 £11.48
December £15 £3.52 £11.48

New PRS for Music royalty payments

Royalty payment earned* TAPS (bank) charge Total royalty payment due
April £15 N/A N/A
July £15 (accrued) N/A N/A
October £15 (accrued) N/A N/A
December £15 (accrued) £3.52 £56.48

Saving £10.56

* Please note this amount is after any UK tax deductions.

What happens if you don't meet the minimum royalty payment amounts?

All royalties will be accrued and paid out once you've reached the minimum amount.

Every December there is a 'clear-out' royalty payment for UK members. If you have accrued more than £1 during the year you will receive a payment.

Overseas members will only receive a payment if they accrue more than £60. If you don't reach the minimum amount, but do accrue more than £1 during the year, you will receive a statement.

When do you receive a statement?

UK and Overseas members - with every payment or every December if you've accrued more than £1, but less than the minimum amount.

 

 
 
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