PAYE END OF YEAR

Since the introduction of RTI in April 2013 the Year End process is now very much streamlined and much easier than before. The submission of a P14/P35 is no longer required however under RTI there are some subtle differences to be aware of. The main one is to ensure you submit your final FPS and/or EPS before 19th April.

Here is an overview of the Year End procedure: 1. Send your final FPS and/or EPS.

2. Update your payroll software to the latest version

3. Transfer your payroll into the new tax year

4. Apply standard points uplift to tax codes (your payroll software may do this automatically)

5. Continue with your payroll as usual.

6. Issue P60s to your employees before 31st May (excluding leavers)

7. Submit P11Ds (if required) by 6th July (this can't be done through your payroll software)

KEY DATES TO REMEMBER

05/04/2018 - Submit your final FPS of the Year & update your software

06/04/2018 - Update your employee records

31/05/2018 - Ensure you have distributed your P60's to all employees

06/07/2018 - Report employee expenses and benefits (P11D)

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