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0113 246 1234

Get your payroll ready for the end of the tax year

As the end of the payroll year ends it is paramount that everything is in place for a stress-free year end.

Payroll year-end ties in with the tax year-end, which is 5 April. The deadline for submitting details to HM Revenue & Customs (HMRC) is 31 May.

Here are some important considerations to think about;

­­­Staff details: Are all staff details correct and up to date on your payroll software?

Pay details: Have you submitted details showing how you have reported all your staff’s pay correctly?

The final pay run: Process your last pay run that falls on or before 5 April 2023 and check you are happy with your employees’ year-to-date figures.

Process leavers: Have you processed any leavers before you do your final submission, so this information is recorded in the correct tax year?

Extra payroll week(s): If you run a weekly payroll (including fortnightly or four-weekly) then you may have to complete an extra pay run.

Final submission: This allows HMRC to finalise the figures for this tax year for each employee. If you didn’t pay anyone in the last period before 5 April, then you will need to submit an employer payment summary (EPS).

Process employee P60s: This is important as every employee is legally entitled to this document.

Important dates around payroll year-end include:

5 April – End of the 2022/23 tax year

6 April – Beginning of the new tax year (2023/24)

19 April – Deadline for the final submission of the 2022/23 tax year

By 31 May – Employees need to receive their P60s

Please check and double-check your payroll reporting as getting this wrong can cause financial problems for both your business and its employees.

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