Payroll Year End

With 5 April fast approaching, you must ensure that you send your final Full Payment Submission (FPS) on or before your employee’s final pay day within the tax year, ensuring that you tick to confirm that this is the final submission for the year on your payroll software. If you forget to tick this box, you can submit an Employer Payment Summary (EPS) to notify HMRC. You may also need to submit an EPS if you have not paid anyone in the final pay period of the tax year.

One of the key processes which you need to carry out for payroll year end is to produce the P60s for your employees. You will need to distribute the P60s to all of the employees on your payroll at the end of the tax year by 31 May 2018; any employees who ended their employment within the tax year should have been issued with a form P45 upon their final pay day.

For more guidance on payroll year end, please visit https://www.gov.uk/payroll-annual-reporting

Disclaimer - All information in this post was correct at time of writing.