Payroll: annual reporting and tasks
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1. Overview
As an employer running payroll, you need to:
- report to HM Revenue and Customs (HMRC) on the previous tax year (which ends on 5 April) and give your employees a P60
- prepare for the new tax year, which starts on 6 April
| What you need to do | When |
|---|---|
| Send your final payroll report of the year | On or before your employees바카라 사이트™ payday |
| Update employee payroll records | From 6 April |
| Update payroll software | From 6 April, or earlier if the software provider asks you to |
| Give your employees a P60 | By 31 May |
| Report employee expenses and benefits | By 6 July |
2. Send your final payroll report
Send your final Full Payment Submission (FPS) on or before your employees바카라 사이트™ last payday of the tax year (which ends on 5 April).
Put 바카라 사이트˜Yes바카라 사이트™ in the 바카라 사이트˜Final submission for year바카라 사이트™ field (if available) in your payroll software.
If you run more than one payroll under the same PAYE scheme reference (for example for employees you pay weekly and monthly), include the end-of-year information in your last report.
When to send an Employer Payment Summary (EPS)
You should send your final report in an EPS instead of an FPS if any of the following apply:
- you forgot to put 바카라 사이트˜Yes바카라 사이트™ in the 바카라 사이트˜Final submission for year바카라 사이트™ field in your last FPS
- your software does not have a 바카라 사이트˜Final Submission for year바카라 사이트™ field on the FPS
- you did not pay anyone in the final pay period of the tax year
- you sent your final FPS early and you did not pay anyone for one or more full tax months in the last tax year
If you바카라 사이트™re late sending your final report
From 20 April you can send an FPS to correct your 2023 to 2024 tax year payroll data by giving the year-to-date figures.
바카라 사이트˜Week 53바카라 사이트™ payments
If you pay your employees weekly, fortnightly or every 4 weeks, you might need to make a 바카라 사이트˜week 53바카라 사이트™ payment in your final FPS of the year.
Your payroll software will work out 바카라 사이트˜week 53바카라 사이트™ payments for you.
In the 바카라 사이트˜Tax week number바카라 사이트™ field of your FPS, put:
- 바카라 사이트˜53바카라 사이트™ if you pay your employees weekly
- 바카라 사이트˜54바카라 사이트™ if you pay them fortnightly
- 바카라 사이트˜56바카라 사이트™ if you pay them every 4 weeks
HMRC will send a P800 form to any employees who owe tax following a 바카라 사이트˜week 53바카라 사이트™ payment.
If you make a mistake
If you find a mistake in your final FPS of the year, what you need to do depends on the type of mistake and when you find it.
| When | What to do | |
|---|---|---|
| Wrong payments or deductions | By 19 April | Send an additional FPS with corrected year-to-date figures, and enter 바카라 사이트˜0바카라 사이트™ in 바카라 사이트˜Pay in this period바카라 사이트™ |
| Wrong payments or deductions | After 19 April | Send an FPS showing the correct year-to-date amounts. |
| Wrong payment date | By 5 April | Send an additional FPS with the correct payment date - put 바카라 사이트˜0바카라 사이트™ in 바카라 사이트˜Pay in this period바카라 사이트™ and give the year-to-date figures |
3. Update employee payroll records
For each employee working for you on 6 April, you바카라 사이트™ll need to:
- prepare a payroll record
- identify the correct tax code to use in the new tax year
- enter their tax code in your payroll software
You should include in your payroll:
- all employees you pay in the tax year, no matter how much you pay them
- any employee who has worked for you in the current tax year (since 6 April) even if they바카라 사이트™ve already left
Using the right tax code
HM Revenue and Customs (HMRC) will send you a:
- P9T form for any employees who need a new tax code
- P9X form with general changes for employees whose tax code ends with an 바카라 사이트˜L바카라 사이트™, 바카라 사이트˜M바카라 사이트™ or 바카라 사이트˜N바카라 사이트™
If you get a lot of tax code notices, it may be faster to use HMRC바카라 사이트™s PAYE Desktop Viewer.
New employees
Use the information new employees give you (usually their P45) to work out their tax code.
4. Update payroll software
Follow your provider바카라 사이트™s instructions to update your payroll software so it uses the latest rates and thresholds for:
- Income Tax
- National Insurance
- student loan repayments
Basic PAYE Tools
You must download and install Basic PAYE Tools again if you바카라 사이트™re using a version before 14.2.14330.88. The version number displays in the bottom-left corner of the tool.
Versions 14.2.14330.88 and later of Basic PAYE Tools check for updates automatically, for example when the tax year changes or new rules come in.
5. Give employees a P60
Give a P60 to all employees on your payroll who are working for you on the last day of the tax year (5 April). The P60 summarises their total pay and deductions for the year.
You must give your employees a P60 by 31 May.
If you바카라 사이트™re exempt from filing your payroll online, you can order copies of P60s from HMRC.
If you need to change a P60
Give your employee either a:
- new P60 marked 바카라 사이트˜replacement바카라 사이트™ - this can be paper or electronic
- letter confirming the change
6. Report expenses and benefits
You can report expenses and benefits using your payroll software, if it has this feature.
You must report expenses and benefits to HMRC by 6 July.
Paying HMRC
Pay any Class 1A National Insurance due on the taxable expenses and benefits you바카라 사이트™ve provided. Your payment must be received by 22 July (or 19 July if you바카라 사이트™re paying by post).