Payroll End of Year Tasks

PayrollAs the financial year comes to an end on 5th April 2016, it’s time to look at the tasks that employers running a payroll need to complete for Her Majesty’s Revenue and Customs (HMRC).  You need to report to HMRC on the previous tax year (which ends on 5 April), give your employees a P60 and prepare for the new tax year, which starts on 6 April 2016

HERE ARE THE 5 ESSENTIAL TASKS AND TIMESCALE:

What you need to do When
Send your final payroll report of the year On or before your employees’ payday
Update employee payroll records From 6 April
Update payroll software From 6 April
Give your employees a P60 By 31 May
Report employee expenses and benefits By 6 July

For more information detailed click here