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What is the deadline for payroll year end submissions? | Year end payroll reporting

What is the deadline for payroll year end submissions? | Year end payroll reporting

Mike Wakeford

When is the year-end payroll submission due?
It is not that long until the current 2023-24 tax year comes to an end on 5th April 2024 with any year-end payroll submissions to HMRC due by 19th of April 2024, with a number of year-end payroll chores that must be completed. This includes sending a final PAYE submission for the tax year. The last Full Payment Submission (FPS) needs to be submitted no later than the last payday for your employees of the 2023-24 tax year.
It is also important that employers remember to provide employees with a copy of their P60 form by 31 May 2024. A P60 must be given to all employees who are on the payroll on the last day of the tax year – 5 April 2024.

What’s the best way to provide p60 statements?
The P60 is a statement issued to employees after the end of each tax year that shows the amount of tax they have paid on their salary. Employers can provide the P60 form on paper or electronically. Employees should ensure they keep their P60s in a safe place as it is an important record of the amount of their earnings and tax paid.
In addition, a P60 is required in order that an employee can prove how much tax they have paid on their salary. For example:
  • to claim back overpaid tax;
  • to apply for tax credits; and
  • as proof of your income if you apply for a loan or a mortgage.
If you think you have paid too much income tax from what is shown on your p60, you can check how much tax you paid last year.

Providing Employees, p60s when leaving their job.
Employees who have left their employment during the tax year do not receive a P60 from their employer, as the same information will be on their P45.

Reporting deadline
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.
Contact us
If you need help completing your payroll before the end of the upcoming tax year contact our Moore (South) specialist payroll team today. We can help organise your payroll submissions and P60 statements to ensure all employees receive these before the year end submission deadline. If you need support with your payroll, contact us today, or to find out more about our payroll services, find out more here.