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Year end payroll reporting

Year end payroll reporting

18 January 2024

Employers face year-end payroll tasks: submit final Full Payment Submission, issue P60 forms by 31 May 2024, and meet deadlines for National Insurance contributions and P11D forms to HMRC by 6 July 2024.

As the current 2023-24 tax year approaches its end, employers must complete several year-end payroll tasks. Submit the last Full Payment Submission (FPS) no later than your employees’ last payday for the 2023-24 tax year. Provide employees with their P60 forms by 31 May 2024, whether in paper or electronic format. Keep the P60s in a safe place as they are crucial records of earnings and tax paid.

Additionally, employees require the P60 to prove the tax paid on their salary for various purposes:

  • Claiming back overpaid tax.
  • Applying for tax credits.
  • Serving as proof of income when applying for a loan or mortgage.

Employees leaving their employment during the tax year won’t receive a P60; the same information will be on their P45.

The deadline for reporting any Class 1A National Insurance contributions and submitting P11D and P11FD(b) forms to HMRC for the tax year ending 5 April 2024 is 6 July 2024.

Source: HM Revenue & Customs Tue, 16 Jan 2024 00:00:00 +0100

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