{"id":3509,"date":"2020-03-16T14:49:24","date_gmt":"2020-03-16T14:49:24","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=3509"},"modified":"2020-03-16T14:49:26","modified_gmt":"2020-03-16T14:49:26","slug":"is-your-business-ready-for-the-payroll-year-end","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/is-your-business-ready-for-the-payroll-year-end\/","title":{"rendered":"Is your business ready for the payroll-year end?"},"content":{"rendered":"

With the payroll year-end fast approaching, you must ensure that your business is complying with the necessary payroll obligations.<\/p>\n

In this blog we have outlined some key dates and tasks that need to be completed.<\/p>\n

The key dates are as follows:<\/strong><\/p>\n

5 April <\/strong>\u2013 2019\/20 tax year ends<\/p>\n

6 April <\/strong>\u2013 2020\/21 tax year begins<\/p>\n

6 April <\/strong>\u2013 you need to update your employee payroll records and your payroll software<\/p>\n

19 April <\/strong>\u2013 deadline for final submission of 2019\/20 tax year<\/p>\n

31 May <\/strong>\u2013 your employees need to receive their P60s by this date<\/p>\n

6 July <\/strong>\u2013 expense and benefits need to be reported by this date (you can do this through your payroll software)<\/p>\n

6 July <\/strong>\u2013 deadline for submission of your P11D and P11D (b) forms<\/p>\n

19 July <\/strong>\u2013 payment of Class 1A National Insurance Contributions must be with HM Revenue & Customs (HMRC)<\/p>\n

The tasks to complete are as follows:<\/strong><\/p>\n

    \n
  1. Report on the previous tax year <\/strong><\/li>\n<\/ol>\n

    The submission date is 19 April and it must be reported to HMRC.<\/p>\n

      \n
    1. Check when your payroll ends: week 52 or 53?<\/strong><\/li>\n<\/ol>\n

      Week 52<\/p>\n

      If your employees are paid monthly \u2013 you can process your payroll as normal.<\/p>\n

      If some or all of your employees are paid weekly, every two weeks, or every four weeks and your normal pay date does not fall on 5 April.<\/p>\n

      Week 53<\/p>\n

      If some or all of your employees are paid weekly, every two weeks, or every four weeks and your normal pay date does fall on 4 or 5 April. Then the payroll must be completed in the usual process.<\/p>\n

        \n
      1. Prepare P60 forms<\/strong><\/li>\n<\/ol>\n

        P60s are important documents that summarise an employee\u2019s pay and deductions for the tax year. Employees must receive their P60s by 31 May.<\/p>\n

        To prepare for this, you need to ensure you have enough P60s forms. If you don\u2019t, it is advised to set aside time to purchase forms.<\/p>\n

        But, remember you can use online P60s as well. This could help make your business more efficient and save money!<\/p>\n

          \n
        1. Process leavers<\/strong><\/li>\n<\/ol>\n

          Employees that have left need to be processed as leavers. This must be done before<\/strong> you submit your FPS, and EPS if needed.<\/p>\n

            \n
          1. Final FPS and EPs<\/strong><\/li>\n<\/ol>\n

            Once the above tasks are completed, the next step is to send your final Full Payments Submission (FPS) and Employer Payment Summary (EPS).<\/p>\n

            You need to process your final pay period, and then submit your last FPS and EPS as normal (for your final pay period only).<\/p>\n

              \n
            1. Process payroll year-end <\/strong><\/li>\n<\/ol>\n

              Your processing date needs to be set for 5 April. This can be done using your payroll software \u2013 where you can also check for future reference.<\/p>\n

              When this is done, you can process your final year-end through internet submission. The deadline is 19 April.<\/p>\n

                \n
              1. Produce your P60s<\/strong><\/li>\n<\/ol>\n

                Employees must receive their P60s by 31 May.<\/p>\n

                \u00a0<\/strong><\/p>\n

                Ensuring you comply with the necessary payroll obligations can be a confusing and time-consuming task. For more information and advice on how we could help you with the process, please contact our expert team today.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

                With the payroll year-end fast approaching, you must ensure that your business is complying with the necessary payroll obligations.<\/p>\n","protected":false},"author":2,"featured_media":3511,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,30,56,31,28,49,25,4,26],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3509"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=3509"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3509\/revisions"}],"predecessor-version":[{"id":3510,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/3509\/revisions\/3510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/3511"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=3509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=3509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=3509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}