Difference between revisions of "Payroll end of year"

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== Introduction ==
 
== Introduction ==
−
Please read through this guide now so you are aware of the processes to follow at the end of the tax year.
+
Please read through this guide in full so you are aware of the processes to follow at the end of the tax year. All information is important and it is your responsibility to carry out each step per the guidance.
  
−
=== Update your Platinum system ===
+
== Step 1: Check the Version of your Platinum system ==
−
{{Information|text=A Platinum Software update containing updates to the 2021/2022 year end reports, including the ability to print P60's directly from Platinum will be ready for download from '''14th March 2022'''.}}
+
{{Highlight|'''IMPORTANT PAYROLL INFORMATION'''}}
  
−
{{Warning|text=This will not automatically move you into the new tax year. You will need to run an additional update once you have completed the year end processes.}}
+
Please ensure your Platinum system is on at least Version '''4.2.10.0''' prior to producing your '''2023/24''' Year End reports.
  
−
* Click [[Downloading a Platinum update|here]] for instructions on downloading and running the update.
+
* Click [https://www.catalyst-uk-support.com/kb/index.php?title=How_do_I_check_when_I_last_had_a_Platinum_update%3F#Checking_the_Version Checking the Platinum Version] for instructions on checking what version of Platinum you currently have.
 +
 
 +
{{Note|title=Contact Support|text=If you are unsure on any of the steps above, please contact your Platinum support team by registering on our [https://catalystcomputersystems.na3.teamsupport.com/login/user Support Hub] and logging a ticket, alternatively by emailing [mailto:platinumsupport@catalyst-uk.com platinumsupport@catalyst-uk.com].  or call on 0116 230 1500 if you need further assistance.}}
 +
 
 +
* Distribute the P60 forms to all employees still in your employment at the end of the payroll year.
 +
 
 +
{{Warning|title=CAUTION|text=A new Platinum Version for payroll '''4.3.1.0''' will be available for download from '''Monday 25th March 2024.''' This update will need to be ran '''AFTER''' the final period processes have been completed. All year end reports need to have been ran '''BEFORE''' the  move to the new Tax Year and apply any statutory changes. This update '''WILL move you into the the next payroll year 2024-2025.'''}}
  
−
== Complete Your Final Payroll Period ==
+
== Step 2: Complete Your Final Payroll Period ==
−
Complete and close your final payroll period for 2021-2022 and file your FPS as normal.
+
Complete and close your final payroll period for '''2023-24''' and file your FPS as normal.
  
 
If you '''do not need to run a Week 53''' please ignore this period. '''DO NOT''' close it. If you are unsure please contact HMRC to enquire if you need to run a week 53.
 
If you '''do not need to run a Week 53''' please ignore this period. '''DO NOT''' close it. If you are unsure please contact HMRC to enquire if you need to run a week 53.
  
−
{{Information|text=Week 53? - If your PAY DATE for week 52 falls on Tuesday 29th March 2022 you WILL need to run a week 53.. Process and close this period as usual before submitting the year end information.}}
+
{{Information|title=Week 53?|text=If your PAY DATE for week 52 falls on or BEFORE '''Friday 29th March 2024''' you '''WILL''' need to run a week 53. Process and close this period as usual before submitting the year end information.}}
  
−
{{Warning|title=WARNING|text=If there is some reason why you cannot file your FPS on or before the pay date for your final period, please note this MUST be submitted BEFORE 19th APRIL 2022 as HMRC do not accept 2021-22 FPS filings after this date.}}
+
{{Warning|title=WARNING|text=If there is some reason why you cannot file your FPS on or before the pay date for your final period, please note this MUST be submitted '''BEFORE 19th APRIL 2024''' as HMRC do not accept '''2023-24''' FPS filings after this date.}}
  
−
== Produce Year End Reports ==
+
== Step 3: Produce Year End Reports ==
−
* Print a P11 for each employee to keep for your records. It is worth checking the figures shown before producing your P60's in case you need to correct any errors.
+
* Print Employee P60's. - These must be issued to all employees still in your employment at '''April 5th''' (they must be given to the employees by '''31st May 2024'''). Please Note: You '''MUST''' print '''2023/24''' P60's '''BEFORE''' moving into the new Tax Year.
 +
* Print a P11 for each employee to keep for your records.
 
* Print the Employee Tax NI and Summary report to provide a check against the Tax and NI paid by each employee over the year (this used to be referred to as the P35). Your final EPS Submission replaces the P35 in sending data to HMRC.
 
* Print the Employee Tax NI and Summary report to provide a check against the Tax and NI paid by each employee over the year (this used to be referred to as the P35). Your final EPS Submission replaces the P35 in sending data to HMRC.
−
* Print Employee P60's. These must be issued to all employees still in your employment at April 5th (they must be given to the employees by 31st May 2022).
 
  
−
{{Note|title=Note|text=You may wish to print your P11 and P35 reports to PDF. We would recommend that if you do this, the files should be copied onto a memory stick or another machine for safe keeping.}}
+
{{Tip|title=Tip|text=We suggest you ensure you print each of the above to PDF and save in a secure location for reference.}}
  
 
Go to {{Menu|{{PR}}|End of Year Payroll Routines}}.
 
Go to {{Menu|{{PR}}|End of Year Payroll Routines}}.
  
−
=== P11 ===
+
=== P60 Forms ===
−
* Click {{DataValue|P11 Current Tax Year - 2022}} then click {{Button|Start}} to print. This will print a P11 for every employee who has been included in your payroll for the year. Keep these for your records.
+
* Click {{DataValue|P60 End of Year Cert. - '''2024'''}}.
−
 
 
−
=== Employee Tax NI and Summary (P35 Substitute) ===
 
−
* Click {{DataValue|Employee Tax and NI Summary}} then click {{Button|Start}} to print.
 
−
* Check the value in the {{DataValue|NIC's}} column on the Employee Tax and NI Summary agrees to the value in the {{DataValue|NI Details}} line under the {{DataValue|Total Cont'ions}} column on each employee's P11.
 
−
* Check the value in the {{DataValue|Income Tax}} column on the Employee Tax and NI Summary agrees to the right hand value in the {{DataValue|PAY Details}}{{DataValue|This Employment}} on each employee's P11.
 
−
* Check the total NIC's and Tax paid on the Employee Tax and NI Summary.
 
−
* As a final check, you can log into your gateway account and check the HMRC totals against this report to ensure that they reconcile.
 
  
−
{{Information|text={{SupportContact}} if you find any discrepancies at this stage and are unsure how to correct them.}}
+
{{Warning|title=WARNING|text=If this option does not read {{DataValue|P60 End of Year Cert. - '''2024'''}} at this stage - you will need to run a [[Downloading a Platinum update|Platinum update]] up to at least Version '''4.2.10.0''' before continuing.}}
  
−
=== P60 Forms ===
 
−
* Click {{DataValue|P60 End of Year Cert. - '''2022'''}}.
 
 
* If you are printing the P60 forms onto paper select {{DataValue|No}} at the {{DataPrompt|Emailed copy?}} prompt.
 
* If you are printing the P60 forms onto paper select {{DataValue|No}} at the {{DataPrompt|Emailed copy?}} prompt.
 
**  To print to your default printer press {{KeyPress|F2}} or click {{Button|Start}}.
 
**  To print to your default printer press {{KeyPress|F2}} or click {{Button|Start}}.
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** Enter the print record to use then press {{KeyPress|ENTER}} and click {{Button|Start}}.
 
** Enter the print record to use then press {{KeyPress|ENTER}} and click {{Button|Start}}.
  
−
{{Tip|text=If you wish to email your P60 forms you should ensure you already have the ability to email from Platinum and will need to add email addresses and passwords to your [[How do I create an employee in the payroll?#General|employee records]]. You may then use print record {{DataValue|87}} to send a secure password protected P60 to the relevant employees. You should also select {{DataValue|Yes}} at the {{DataPrompt|Emailed copy?}} prompt as this inserts some additional text into the P60 to indicate it is an email version of the form. For employees without an email address Platinum will print the P60 to your default print record for you to distribute by hand. If you require assistance with this option please {{SupportContact}}.}}
+
{{Tip|title=Tip|text=If you wish to email your P60 forms you should ensure you already have the ability to email from Platinum and will need to add email addresses and passwords to your [[How do I create an employee in the payroll?#General|employee records]]. You may then use print record {{DataValue|87}} to send a secure password protected P60 to the relevant employees. You should also select {{DataValue|Yes}} at the {{DataPrompt|Emailed copy?}} prompt as this inserts some additional text into the P60 to indicate it is an email version of the form. For employees without an email address Platinum will print the P60 to your default print record for you to distribute by hand.}}
 +
 
 +
{{Note|title=Contact Support|text=If you require assistance with this option please, contact your Platinum support team by emailing [mailto:platinumsupport@catalyst-uk.com platinumsupport@catalyst-uk.com]. Alternatively by registering on our [https://catalystcomputersystems.na3.teamsupport.com/login/user Support Hub] and logging a ticket or call on 0116 230 1500 if you need further assistance.}}
  
 
* Distribute the P60 forms to all employees still in your employment at the end of the tax year. ''Do not'' send them to any employees who have left your employment.
 
* Distribute the P60 forms to all employees still in your employment at the end of the tax year. ''Do not'' send them to any employees who have left your employment.
  
−
{{Information|text=When you are happy with the reports you have produced above, you may move into the new tax year.}}
+
=== P11 ===
 +
{{Warning|title=WARNING|text=If this option does not read {{DataValue|P11 Current Tax Year - 2024}} at this stage - you will need to run a [[Downloading a Platinum update|Platinum update]] before continuing.}}
 +
* Click {{DataValue|P11 Current Tax Year - 2024}} then click {{Button|Start}} to print. This will print a P11 for every employee who has been included in your payroll for the year. Keep these for your records.
 +
 
 +
=== Employee Tax NI and Summary (P35 Substitute) ===
 +
{{Note|title=Please note|text=As the P35's are no longer used the {{DataPrompt|Employee Tax NI and Summary}} option has been taken out of the {{DataPrompt|End of year Routines}} menu. However should you still wish to print this summary you can follow the steps below.}}
  
−
{{Warning|text=If you have multiple companies, please ensure you have carried out the above processes on '''ALL'' companies before following the steps to move into the new tax year.}}
+
* Click {{Menu|{{PR}}|Payroll Reports|Payroll Report Generator}}
 +
* Enter {{DataValue|P35}} into the {{DataPrompt|Filter on}} field.
 +
* Click {{DataPrompt|Start}}.
 +
* Click {{DataValue|Employee Tax and NI Summary}} then click {{Button|Start}} to print.
 +
* Check the value in the {{DataValue|NIC's}} column on the Employee Tax and NI Summary agrees to the value in the {{DataValue|NI Details}} line under the {{DataValue|Total Cont'ions}} column on each employee's P11.
 +
* Check the value in the {{DataValue|Income Tax}} column on the Employee Tax and NI Summary agrees to the right hand value in the {{DataValue|PAY Details}}{{DataValue|This Employment}} on each employee's P11.
 +
* Check the total NIC's and Tax paid on the Employee Tax and NI Summary.
 +
* As a final check, you can log into your gateway account and check the HMRC totals against this report to ensure that they reconcile.
  
−
== Moving into the New Tax Year 2022/2023 ==
+
{{Note|title=Please Note|text=When you have produced the above reports, you may move into the new tax year.}}
−
{{Information|text=A Platinum Software update containing the changes for the tax year 2022/2023 will be ready for download from 14th March 2022.}}
 
  
−
* Take a [[Setting up the Platinum backup program|backup]] of your system. You may use the standard Platinum backup option to do this but users must be out of the system and we suggest you label it '''"PAYROLL YEAR END 2021/2022'''. {{SupportContact}} if you need further assistance.
+
{{Warning|title=WARNING|text=If you have multiple companies, please ensure you have carried out the above processes on '''ALL''' companies before following the steps to move into the new tax year.}}
  
−
* Run a Platinum Update to move the payroll into the new tax year, this is done as follows:
+
== Step 4: Moving into the New Tax Year 2024/2025 ==
−
** [[Downloading a Platinum update|Download]] a Platinum Update following the instructions in the article.
 
  
−
{{Note|text=As you are going through the update process, please make sure you read each information/message box carefully. If in doubt choose {{Button|No}} or {{Button|Cancel}} to abort the update. {{SupportContact}} if you are unsure how to proceed at any stage of the update.}}
+
{{Warning|title=WARNING|text=We strongly suggest you [[Setting up the Platinum backup program|backup]] your system prior to rolling forward. You may use the standard Platinum backup option to do this but users must be out of the system and we suggest you label it '''"PAYROLL YEAR END 2023/2024"'''.}}
  
−
** Choose {{Button|No}} at the first screen that says {{DataPrompt|Welcome to the Platinum Setup Wizard}}.
+
{{Information|title=Information|text=A new Platinum Version for payroll '''4.3.1.0''' will be available for download from '''Monday 25th March 2024.''' This update will need to be ran '''AFTER''' the final period processes have been completed and all year end reports have been ran to move the Tax Year and apply any statutory changes as this '''WILL move you into the the next payroll year - 2024/2025.'''}}
−
* On the list of options, click {{DataPrompt|Move Payroll on to the '''2022-2023''' Tax Year}} - a tick will appear in the little box.
 
  
−
{{Warning|text=It is NOT possible to roll back into the previous year so please ensure you have produced all the required reports before moving in to the new tax year.}}
+
* Click [[Downloading a Platinum update|here]] for instructions on downloading and running the update.
  
−
* Click {{DataValue|Next}}.
+
{{Note|title=Contact Support|text=If you are unsure on any of the steps above, please contact your Platinum support team by registering on our [https://catalystcomputersystems.na3.teamsupport.com/login/user Support Hub] and logging a ticket, alternatively by emailing [mailto:platinumsupport@catalyst-uk.com platinumsupport@catalyst-uk.com].  or call on 0116 230 1500 if you need further assistance.}}
−
* Read the warning box that appears and click {{Button|Yes}} or {{Button|No}} as appropriate ({{Button|No}} will abort the update).
 
  
−
{{Warning|text=If you have not printed all your year end reports choose {{Button|No}} to cancel the update. Return to those companies and finish the year end.}}
+
* Run a Platinum Update to move the payroll into the new tax year, this is done as follows:
 +
** [[Downloading a Platinum update|Download]] a Platinum Update following the instructions in the article.
 +
* The installer will contain information you should read to ensure you are clear that this process will roll you into the new tax year. This option cannot be reversed.
  
−
Once you confirm the update, your system will be moved forward into the new payroll tax year. This will also install any changes to the Statutory Pay and National Insurance Bands as per HMRC guidance.
+
{{Warning|title=CAUTION|text=Once you have installed Version '''4.3.1.0''', your system '''WILL BE MOVE FORWARD INTO THE NEW PAYROLL YEAR'''. This will also install any changes to Statutory Pay Rates, Student Loans, Department for Work and Pensions bands and National Insurance Bands as per HMRC guidance.}}
  
−
{{Note|text=This WILL NOT alter your employee's tax codes. You must carry out this change manually, see below.}}
+
{{Note|title=Please Note|text=You '''MUST''' now check your employee tax codes and pension settings as per the sections below.}}
  
−
=== Altering Employee Tax Codes ===
+
== Step 5: Altering Employee Tax Codes ==
−
Once you have moved your year forward, you will need to update your employee tax codes. You should also ensure that you change the {{DataPrompt|Week1/Month1}} to {{DataValue|No}} on any applicable employees unless instructed otherwise by HMRC.
+
Check each employee's tax code.
 +
* Amend any as per guidance from HMRC e.g. individual employee tax code notifications and/or standard increases to codes.
 +
* Ensure that you change the {{DataPrompt|Week1/Month1}} flag to {{DataValue|No}} on any applicable employees unless instructed otherwise by HMRC.
  
−
See [[How do I change a tax code?]].
+
Please see [[How do I change a tax code?]].
  
−
=== Increasing Automatic Enrolment Contributions ===
+
== Step 6: Pension Schemes ==
−
There have been no announced increases to Automatic Enrolment Contributions for 2022/2023 at this time.
+
There have been no announced increases to Automatic Enrolment Contributions for '''2024/2025''' at this time.
  
−
== Payslip Changes ==
+
You are advised to confirm with your Pension Providers whether there are any changes to schemes your employees are enrolled in. It is your responsibility to understand and implement any changes.
−
Due to the increase in National Insurance for the 2022/2023 tax year, HMRC have requested that all employers print the phrase {{DataValue|1.25% uplift in NICs funds NHS, health & social care.}} on their payslips.
 
  
−
We have amended the standard issued payslip reports to include this phrase and have also issued two new payslip formats to produce A4 payslips, which can be printed or emailed securely. See [[How do I email payslips to my employees?]] if you wish to add this option to your system or {{SupportContact}} for advice.
+
Further guidance on automatic enrolment schemes may be found here: [https://www.thepensionsregulator.gov.uk/en/business-advisers/automatic-enrolment-guide-for-business-advisers/automatic-enrolment-earnings-threshold Department for Work and Pensions (DWP)].
  
−
If you have custom payslip reports please note that they will not automatically print the required wording so must be amended on a case by case basis. Please {{SupportContact}}, prior to closing your first period in the new tax year, if this wording needs adding to your payslips.
+
Please see [[How do I set up a pension scheme in Platinum Payroll?|this]] article for further guidance on Pension Scheme settings.
  
−
== Send the Final EPS to HMRC ==
+
== Step 7: Send the Final EPS to HMRC ==
−
The EPS ''must'' be submitted by 19th April 2022. (previously this was 19th May but this date has been removed from HMRC year end articles).
+
The EPS ''must'' be submitted by '''19th April 2024'''.
  
 
Go to {{Menu|{{PR}}|End of Year Payroll Routines}}.
 
Go to {{Menu|{{PR}}|End of Year Payroll Routines}}.
 
* Click {{Button|Employer Payment Summary}}
 
* Click {{Button|Employer Payment Summary}}
−
* Click {{Menu|View or Submit Final 20**/** EPS}}.
+
* Click {{Menu|View or Submit Final '''2023/24''' EPS}}.
−
* At the bottom of the box is a drop down list of periods.
+
* At the bottom of your screen is a drop down for you to choose the period to submit.
−
* Select {{Menu|2021/2022 Final Submission for the year}}.
+
 
 +
{{Warning|title=WARNING|text=Ensure you select {{Menu|'''2023/2024''' Final Submission for the year}}.}}
  
−
Check the values shown agree to the payments and deductions you made to HMRC for the 2021/2022 Tax Year.
+
Check the values shown agree to the payments and deductions you made to HMRC for the '''2023/2024''' Tax Year.
  
−
{{Note|text=You will need to calculate the total actual amount that you have paid to HMRC over the year relevant to your payroll. Do NOT just copy the figures from your P35 - check that the amounts you actually paid from your bank account agree to your reports. This allows you to check that you have included Student Loan deductions, Employment Allowance (if you are eligible) and any SMP/SAP/SPP compensation to which you may be due.}}
+
{{Note|title=Please Note|text=You will need to calculate the total actual amount that you have paid to HMRC over the year relevant to your payroll. Do NOT just copy the figures from your P35 - check that the amounts you actually paid from your bank account agree to your reports. This allows you to check that you have included Student Loan deductions, Employment Allowance (if you are eligible) and any SMP/SAP/SPP compensation to which you may be due.}}
  
 
* Fill in the relevant amounts in the fields available to you. You may press {{KeyPress|F11}} on any field for an explanation of the information shown.
 
* Fill in the relevant amounts in the fields available to you. You may press {{KeyPress|F11}} on any field for an explanation of the information shown.
Line 135: Line 146:
 
* Click {{Button|Submit}} to proceed.
 
* Click {{Button|Submit}} to proceed.
  
−
==== What happens next ====
+
== What happens next ==
 
The software will now start to send your return. The time it takes to send and get a response to your return is entirely down to HMRC. You will receive a message on screen telling you if your return has been successful and you will receive an email to the address you specified.
 
The software will now start to send your return. The time it takes to send and get a response to your return is entirely down to HMRC. You will receive a message on screen telling you if your return has been successful and you will receive an email to the address you specified.
  
−
If the submission appears to be taking a long time please click [https://www.gov.uk/government/collections/hm-revenue-and-customs-service-availability-and-issues here]. HMRC will post a message on their site if they are experiencing specific issues receiving submissions. If your return is taking a long time please be patient as HMRC is likely to be inundated with returns. You have until 19th April to return these figures but we would advise you don't leave it until the last minute!
+
If the submission appears to be taking a long time please click [https://www.gov.uk/government/collections/hm-revenue-and-customs-service-availability-and-issues here]. HMRC will post a message on their site if they are experiencing specific issues receiving submissions. If your return is taking a long time please be patient as HMRC is likely to be inundated with returns. You have until '''19th April''' to return these figures but we would advise you don't leave it until the last minute!
  
 
If the return is taking a long time you may click {{Button|Stop}}. The system will carry on awaiting a reply to the submission. You may continue to use Platinum as normal whilst this is in progress.
 
If the return is taking a long time you may click {{Button|Stop}}. The system will carry on awaiting a reply to the submission. You may continue to use Platinum as normal whilst this is in progress.
Line 144: Line 155:
 
To check the status of the submission:
 
To check the status of the submission:
 
* Go to {{Menu|{{PR}}|End of Year Payroll Returns|Employer Payment Summary}}.
 
* Go to {{Menu|{{PR}}|End of Year Payroll Returns|Employer Payment Summary}}.
−
* Choose {{Menu|Check 2021/2022 EPS Status}}.
+
* Choose {{Menu|Check '''2023/2024''' EPS Status}}.
  
 
==== Unsuccessful Returns ====
 
==== Unsuccessful Returns ====
−
If you have an unsuccessful return you will be given a response message telling you why the [[Troubleshooting payroll RTI submission errors|submission]] wasn't successful. Please read the message then try to resolve the problem. If you cannot resolve the problem please {{SupportContact}}. Once a problem has been resolved you can submit the return making sure you fill in the declaration fields again.
+
*If you have an unsuccessful return you will be given a response message telling you why the [[Troubleshooting payroll RTI submission errors|submission]] wasn't successful. Please read the message then try to resolve the problem.
  
−
==== After a Successful Return ====
+
{{Note|title=Contact Support|text=If you are unsure on any of the steps above, please contact your Platinum support team by registering on our [https://catalystcomputersystems.na3.teamsupport.com/login/user Support Hub] and logging a ticket, alternatively by emailing [mailto:platinumsupport@catalyst-uk.com platinumsupport@catalyst-uk.com].   or call on 0116 230 1500 if you need further assistance.}}
−
If after a successful return you find you need to adjust any figures you may need to complete an [https://www.gov.uk/basic-paye-tools Earlier Year Update]. Platinum cannot submit an EYU so please use the service provided by the HMRC website.
 
  
−
{{Example|text=If a P60 figure for an employee was £100.13 and should have been £10.13 your amendment would be £90.00.}}
+
*Once a problem has been resolved you can submit the return making sure you fill in the declaration fields again
  
−
If you experience any problems please {{SupportContact}} for help with Platinum Payroll or contact HMRC for advice on incorrect figures and submitting an EYU.
+
==== After a Successful Return ====
 +
If after a successful return you find you need to adjust any figures you will need to contact HMRC. You may not submit an Earlier Year Update via Platinum.
  
 
== Key Dates & Year End Check List ==
 
== Key Dates & Year End Check List ==
Line 161: Line 172:
  
 
;Payroll Week 53
 
;Payroll Week 53
−
:If your pay date for week 52 falls on 29th March you '''WILL''' need to run a Week 53.
+
:If your pay date for week 52 falls on or before 29th March you '''WILL''' need to run a Week 53.
  
 
;5th April
 
;5th April
Line 170: Line 181:
 
:Amendment of Employee Tax Codes.
 
:Amendment of Employee Tax Codes.
  
−
;20th April
+
;19th April
 
:Deadline for submission of final FPS
 
:Deadline for submission of final FPS
 
:Deadline for submission of final EPS
 
:Deadline for submission of final EPS
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;6th July
 
;6th July
 
:Deadline for P11D's to be submitted to the Inland Revenue.
 
:Deadline for P11D's to be submitted to the Inland Revenue.
−
 
−
=== Year End Check List ===
 
−
* Download and run a Platinum Software Update.
 
−
* Complete and Close Week 52/Month 12 (or WK53 if applicable).
 
−
* Print all necessary reports:
 
−
** P11
 
−
** P35
 
−
** P60's
 
−
* Take a backup of Platinum.
 
−
* Download a Platinum Software Update - follow steps to move into the new tax year.
 
−
* Update Employee Tax Codes.
 
−
* Increase Pension contributions if applicable.
 
−
* File final EPS - Employer Payment Summary.
 
−
* Hand out P60's to all employees in your employment as at 5th April.
 
  
 
== See also ==
 
== See also ==
Line 203: Line 200:
 
* [[How do I claim employment allowance?]]
 
* [[How do I claim employment allowance?]]
  
−
{{KB_Tags|payroll, 2022-2023, 2021-2022 end of year, end of year, year end, procedure, fps, p35, p60, p11, final period, close period, tax year, 5th april, 6th april, week 53}}
+
{{KB_Tags|payroll, 2024-2025, 2023-2024 end of year, end of year, year end, procedure, fps, p35, p60, p11, final period, close period, tax year, 5th april, 6th april, week 53, pr_year}}
 
{{KB_PR}}{{ZN_Admin}}
 
{{KB_PR}}{{ZN_Admin}}

Latest revision as of 06:31, 15 November 2024

Summary

This article explains what you need to do before, during and after the last period of your tax year.

Introduction

Please read through this guide in full so you are aware of the processes to follow at the end of the tax year. All information is important and it is your responsibility to carry out each step per the guidance.

Step 1: Check the Version of your Platinum system

IMPORTANT PAYROLL INFORMATION

Please ensure your Platinum system is on at least Version 4.2.10.0 prior to producing your 2023/24 Year End reports.

Contact Support: If you are unsure on any of the steps above, please contact your Platinum support team by registering on our Support Hub and logging a ticket, alternatively by emailing platinumsupport@catalyst-uk.com. or call on 0116 230 1500 if you need further assistance.
  • Distribute the P60 forms to all employees still in your employment at the end of the payroll year.
CAUTION: A new Platinum Version for payroll 4.3.1.0 will be available for download from Monday 25th March 2024. This update will need to be ran AFTER the final period processes have been completed. All year end reports need to have been ran BEFORE the move to the new Tax Year and apply any statutory changes. This update WILL move you into the the next payroll year 2024-2025.

Step 2: Complete Your Final Payroll Period

Complete and close your final payroll period for 2023-24 and file your FPS as normal.

If you do not need to run a Week 53 please ignore this period. DO NOT close it. If you are unsure please contact HMRC to enquire if you need to run a week 53.

Week 53?: If your PAY DATE for week 52 falls on or BEFORE Friday 29th March 2024 you WILL need to run a week 53. Process and close this period as usual before submitting the year end information.
WARNING: If there is some reason why you cannot file your FPS on or before the pay date for your final period, please note this MUST be submitted BEFORE 19th APRIL 2024 as HMRC do not accept 2023-24 FPS filings after this date.

Step 3: Produce Year End Reports

  • Print Employee P60's. - These must be issued to all employees still in your employment at April 5th (they must be given to the employees by 31st May 2024). Please Note: You MUST print 2023/24 P60's BEFORE moving into the new Tax Year.
  • Print a P11 for each employee to keep for your records.
  • Print the Employee Tax NI and Summary report to provide a check against the Tax and NI paid by each employee over the year (this used to be referred to as the P35). Your final EPS Submission replaces the P35 in sending data to HMRC.
Tip: We suggest you ensure you print each of the above to PDF and save in a secure location for reference.

Go to " Payroll End of Year Payroll Routines".

P60 Forms

  • Click 'P60 End of Year Cert. - 2024'.
WARNING: If this option does not read 'P60 End of Year Cert. - 2024' at this stage - you will need to run a Platinum update up to at least Version 4.2.10.0 before continuing.
  • If you are printing the P60 forms onto paper select 'No' at the "Emailed copy?" prompt.
    • To print to your default printer press <F2> or click [Start].
    • To select an alternate print record e.g. '92 - Print to PDF' press <Alt+P>.
    • Enter the print record to use then press <Enter> and click [Start].
Tip: If you wish to email your P60 forms you should ensure you already have the ability to email from Platinum and will need to add email addresses and passwords to your employee records. You may then use print record '87' to send a secure password protected P60 to the relevant employees. You should also select 'Yes' at the "Emailed copy?" prompt as this inserts some additional text into the P60 to indicate it is an email version of the form. For employees without an email address Platinum will print the P60 to your default print record for you to distribute by hand.
Contact Support: If you require assistance with this option please, contact your Platinum support team by emailing platinumsupport@catalyst-uk.com. Alternatively by registering on our Support Hub and logging a ticket or call on 0116 230 1500 if you need further assistance.
  • Distribute the P60 forms to all employees still in your employment at the end of the tax year. Do not send them to any employees who have left your employment.

P11

WARNING: If this option does not read 'P11 Current Tax Year - 2024' at this stage - you will need to run a Platinum update before continuing.
  • Click 'P11 Current Tax Year - 2024' then click [Start] to print. This will print a P11 for every employee who has been included in your payroll for the year. Keep these for your records.

Employee Tax NI and Summary (P35 Substitute)

Please note: As the P35's are no longer used the "Employee Tax NI and Summary" option has been taken out of the "End of year Routines" menu. However should you still wish to print this summary you can follow the steps below.
  • Click " Payroll Payroll Reports Payroll Report Generator"
  • Enter 'P35' into the "Filter on" field.
  • Click "Start".
  • Click 'Employee Tax and NI Summary' then click [Start] to print.
  • Check the value in the 'NIC's' column on the Employee Tax and NI Summary agrees to the value in the 'NI Details' line under the 'Total Cont'ions' column on each employee's P11.
  • Check the value in the 'Income Tax' column on the Employee Tax and NI Summary agrees to the right hand value in the 'PAY Details''This Employment' on each employee's P11.
  • Check the total NIC's and Tax paid on the Employee Tax and NI Summary.
  • As a final check, you can log into your gateway account and check the HMRC totals against this report to ensure that they reconcile.
Please Note: When you have produced the above reports, you may move into the new tax year.
WARNING: If you have multiple companies, please ensure you have carried out the above processes on ALL companies before following the steps to move into the new tax year.

Step 4: Moving into the New Tax Year 2024/2025

WARNING: We strongly suggest you backup your system prior to rolling forward. You may use the standard Platinum backup option to do this but users must be out of the system and we suggest you label it "PAYROLL YEAR END 2023/2024".
Information: A new Platinum Version for payroll 4.3.1.0 will be available for download from Monday 25th March 2024. This update will need to be ran AFTER the final period processes have been completed and all year end reports have been ran to move the Tax Year and apply any statutory changes as this WILL move you into the the next payroll year - 2024/2025.
  • Click here for instructions on downloading and running the update.
Contact Support: If you are unsure on any of the steps above, please contact your Platinum support team by registering on our Support Hub and logging a ticket, alternatively by emailing platinumsupport@catalyst-uk.com. or call on 0116 230 1500 if you need further assistance.
  • Run a Platinum Update to move the payroll into the new tax year, this is done as follows:
    • Download a Platinum Update following the instructions in the article.
  • The installer will contain information you should read to ensure you are clear that this process will roll you into the new tax year. This option cannot be reversed.
CAUTION: Once you have installed Version 4.3.1.0, your system WILL BE MOVE FORWARD INTO THE NEW PAYROLL YEAR. This will also install any changes to Statutory Pay Rates, Student Loans, Department for Work and Pensions bands and National Insurance Bands as per HMRC guidance.
Please Note: You MUST now check your employee tax codes and pension settings as per the sections below.

Step 5: Altering Employee Tax Codes

Check each employee's tax code.

  • Amend any as per guidance from HMRC e.g. individual employee tax code notifications and/or standard increases to codes.
  • Ensure that you change the "Week1/Month1" flag to 'No' on any applicable employees unless instructed otherwise by HMRC.

Please see How do I change a tax code?.

Step 6: Pension Schemes

There have been no announced increases to Automatic Enrolment Contributions for 2024/2025 at this time.

You are advised to confirm with your Pension Providers whether there are any changes to schemes your employees are enrolled in. It is your responsibility to understand and implement any changes.

Further guidance on automatic enrolment schemes may be found here: Department for Work and Pensions (DWP).

Please see this article for further guidance on Pension Scheme settings.

Step 7: Send the Final EPS to HMRC

The EPS must be submitted by 19th April 2024.

Go to " Payroll End of Year Payroll Routines".

  • Click [Employer Payment Summary]
  • Click " View or Submit Final 2023/24 EPS".
  • At the bottom of your screen is a drop down for you to choose the period to submit.
WARNING: Ensure you select " 2023/2024 Final Submission for the year".

Check the values shown agree to the payments and deductions you made to HMRC for the 2023/2024 Tax Year.

Please Note: You will need to calculate the total actual amount that you have paid to HMRC over the year relevant to your payroll. Do NOT just copy the figures from your P35 - check that the amounts you actually paid from your bank account agree to your reports. This allows you to check that you have included Student Loan deductions, Employment Allowance (if you are eligible) and any SMP/SAP/SPP compensation to which you may be due.
  • Fill in the relevant amounts in the fields available to you. You may press <F11> on any field for an explanation of the information shown.
    • For most people, this will involve filling in the "NICs and Tax paid already" field based on the results of your check on payments made this year.
  • Leave any that don't apply set to £0.00.
  • Click [Next].
  • If you are taken to a [Checklist] tab, please answer the questions shown.
  • On the [Declaration] tab, please complete the required information.
  • Click [Submit] to send the final return to HMRC.

Please read the section below on submissions:

Types of Submission

When submitting you may choose to send a Test before submitting your live return.

  • Depending on which type of submission you are making, click the drop down key and choose [Live Submission] or [Test Submission].

TEST

  • You may return a test submission, which will be checked by the Inland Revenue to make sure some of the information is accurate. It will not completely verify your return but it will check details such as:
  • Whether the Employee Names, Tax Codes & NI numbers are correct and acceptable.
  • You will get a reply from this test, which will tell you if any details are inaccurate or need to be altered. If so please make the necessary changes. You may submit as many tests as you like.

If you have submitted a test return, please wait for the response to it before trying to submit your live return.

LIVE

  • Once you have sent the final live return, you will no longer be able to make any changes to the return. You must not submit more than one live return.
  • Click [Submit] to proceed.

What happens next

The software will now start to send your return. The time it takes to send and get a response to your return is entirely down to HMRC. You will receive a message on screen telling you if your return has been successful and you will receive an email to the address you specified.

If the submission appears to be taking a long time please click here. HMRC will post a message on their site if they are experiencing specific issues receiving submissions. If your return is taking a long time please be patient as HMRC is likely to be inundated with returns. You have until 19th April to return these figures but we would advise you don't leave it until the last minute!

If the return is taking a long time you may click [Stop]. The system will carry on awaiting a reply to the submission. You may continue to use Platinum as normal whilst this is in progress.

To check the status of the submission:

  • Go to " Payroll End of Year Payroll Returns Employer Payment Summary".
  • Choose " Check 2023/2024 EPS Status".

Unsuccessful Returns

  • If you have an unsuccessful return you will be given a response message telling you why the submission wasn't successful. Please read the message then try to resolve the problem.
Contact Support: If you are unsure on any of the steps above, please contact your Platinum support team by registering on our Support Hub and logging a ticket, alternatively by emailing platinumsupport@catalyst-uk.com. or call on 0116 230 1500 if you need further assistance.
  • Once a problem has been resolved you can submit the return making sure you fill in the declaration fields again

After a Successful Return

If after a successful return you find you need to adjust any figures you will need to contact HMRC. You may not submit an Earlier Year Update via Platinum.

Key Dates & Year End Check List

Key & Useful Dates

Payroll Week 53
If your pay date for week 52 falls on or before 29th March you WILL need to run a Week 53.
5th April
End of current Tax Year.
6th April
Start of next Tax Year.
Amendment of Employee Tax Codes.
19th April
Deadline for submission of final FPS
Deadline for submission of final EPS
Final Payment to the Inland Revenue for the Previous Tax year.
31st May
P60 forms must be given to employees by this date.
6th July
Deadline for P11D's to be submitted to the Inland Revenue.

See also


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