25 Apr

End of Tax Year Payroll Procedures

Megan
Megan
End of Tax Year Payroll Procedures

As the 2021/22 tax year has now ended, employers need to carry out the following end of year procedures:

  • Provide your employees with their P60 annual summaries by 31 May 2022;
  • Prepare forms P11D for employees’ expenses and benefits by 5 July 2022;
  • Update your employees’ payroll data for 2022/23, in particular their new tax codes; and
  • Update your payroll software for 2022/23 if you haven’t already done so.

Here is a link to the HMRC guidance: Payroll: annual reporting and tasks: Overview - GOV.UK (www.gov.uk).

Please talk to us about your payroll – we would be delighted to help!

Please note that this blog is correct as of the 25th April 2022. 

DISCLAIMER - PLEASE NOTE: The ideas shared with you in this blog are intended to inform rather than advise. Tax payers circumstances do vary and if you feel that tax strategies we have outlined may be beneficial, it is important that you contact us before implementation. If you do take action as a result of reading this blog, before receiving our written endorsement, we will accept no responsibility.