Payroll year-end is fast approaching. It can be a stressful time of year for finance teams, payroll bureaus and accountants, but with help from Intelligent Payroll, it doesn’t have to be.
Payroll year end is a busy period, so keeping an organised and up to date calendar is vital. Keeping track of the below dates will ensure your payroll year end process is seamless.
1. Send your final payroll FPS to HMRC
When: On or before your employee’s pay day
2. End of the Tax Year 21/22
When: 5th April 2022
3. New Payroll Tax Year 22/23
When: 6th April 2022
4. Submit your Month 12/Year End EPS
When: 19th April 2022
5. Give your employees a P60
When: by 31st May 2022
6. Report Expenses & Benefits
When: by 6th July 2022
To help you process your payroll year-end – HMRC have a step by step guide you can follow here
Before you submit your end of year payroll submission, we would recommend checking the following;
Once the final submission has been made, you will need to provide your employees with P60s. This should be done before 31st May 2022.
If your chosen payroll software is through Intelligent Payroll, your employees’ P60s will automatically be produced once the final payroll has been processed. These will be available directly to the employee on their secure pay portal.
Try not to complicate the payroll process, keep it simple. You will want policies and procedures in place to ensure that your payroll system keeps things straightforward and stress-free.
Using electronic payslips are faster, more efficient and more secure than traditional paper payslips.
Using automated payroll software like Intelligent Payroll’s solution can help you manage all the above and ensure deadlines are met.
Our clients enjoy not having to worry about the above as our dedicated team of payroll specialists will ensure all deadlines are met and that the process is simplified. All while keeping you fully in the loop. Want to know more about our solutions? Click Here
Your payroll year-end doesn’t have to be stressful. Follow our tips above and with the help of our HMRC recognised payroll software, you and your payroll team can enjoy a smooth and stress-free experience.
The payroll solution that your team has been waiting for.
For more information, contact us today or book a demo.