Navigating your payroll year-end can be stressful and time-consuming – we get it.
You probably already have lots of other work on your plate, so let us help make life a little easier for you.
You may be asking yourself: “What is it I need to do and when does it need to be done by?”
It’s an excellent question and the answers to it are vital for ensuring your company’s year-end payroll is handled correctly.
Find out how to navigate your payroll year-end with ease with all the necessary key information, dates, and steps you’ll need to take along the way.
4 simple steps to break down your payroll year-end process
Our payroll guru, Neil Larsen, outlined the key lesson businesses should remember about payroll year-end when he said:
“Payroll year-end seems like a much more daunting task than it is and can cause a lot of stress.
Just remember all you need to do is a quick submission to HMRC and print out forms for your employees.
There is always support available here for you. Whether you watch our year-end video or pick up the phone and give us a call for a bit of extra help, we will never leave you stranded.”
The payroll year-end process can seem complicated at first glance, but if you follow these simple steps, you’ll soon find it simpler and easier to handle.
Step 1: Process your final pay run
Step 2: Process your year-end
Step 3: Get your P60s ready
Step 4: Check the P9s and start your new payroll year
Neil explains how to manage your payroll year-end like a champ in greater detail below:
The key dates you need to know as the payroll year-end approaches
There are two crucial dates to have firmly marked in your planner as you head towards the year-end. They are the:
- 19th of April (the deadline for your final submission to HMRC)
- 31st of May (the date by which all of your employees need to have received their P60s).
You should also be aware of several other important dates, such as the:
- 5th April (the end date for the 2024/25 tax year)
- 6th April (the beginning of the new tax year 2025/26)
- 22nd April (the deadline for month 12 PAYE and online payment submission)
- By 6th July (the deadline for reporting on expenses and benefits)
- 22nd July (this is the deadline your payments of class 1A National Insurance contributions on Benefits in Kind must be with HMRC or by 19th July if you’re not using digital systems).
Our experts can help you unlock valuable payroll-related knowledge, get in touch today
Discover how to streamline, simplify, and master your payroll processing with our seasoned payroll experts.
They’ll take you on a journey all the way from processing payslips to navigating your payroll year-end, breaking down the important information you need to know into manageable steps.
While managing the payroll year-end can seem daunting at first, it can become a seamless journey when you have feasible steps in place, such as internal deadlines for getting everything done in time.
If you’re still unsure how to navigate your year-end, email enquiries@solutionscloud.uk or give us a call at 0115 840 5075. We’re always happy to lend a helping hand and might be able to help you find additional tailored solutions that could financially benefit your business.
Sage 50 Payroll could help you streamline your payroll processes, comply with new legislation, and meet HMRC deadlines as your business is required to do by law.
Let us help you make your company’s payroll and financial processes a little easier.
