Understanding your payroll reporting requirements

Running a smooth payroll operation is core to the survival of your workforce which is why so many larger companies have dedicated payroll departments as keeping on top of paying staff correctly and reporting deductions and taxes to HMRC can all seem a bit manic if it is not managed accordingly.

As an employer you must:

• Report to HMRC on the previous tax year, ending 5^th April
• Issue a P60 to your employees at the end of the tax year
• Prepare for the new tax year, starting 6^th April

We have prepared a handy table so you don’t miss out the important dates:

What you need to do	When you need to do it for
Send FPS for new employees	On or before your employees’ payday
Submit final payroll report of the year	On or before your employees’ last payday of the tax year, ending 5th April
Update employee payroll records	From 6th April
Update payroll software	From 6th April, or earlier if asked
Give your employees a P60	By 31st May
Report employee expenses and benefits	By 6th July

Using our managed payroll service we can take on all these requirements and report to HMRC on your behalf. Get in touch to find out how else we can help take the weight off your shoulders.