Preparing for 2016/17 Payroll Year End
Article ID: 2025122 Last updated: 15 March 2017
There are a number of things you can do to ensure you are fully prepared for a smooth year end process.
As an employer running payroll, you will need to:
• Report to HMRC on the tax year ending 5 April 2017 and give your employees a P60
• Prepare for the new tax year that starts on 6 April 2017.
The full Payroll End of Year Guide can be found by CLICKING HERE.
|What you will need to do
|Send your last Full Payment Submission (FPS) 'Final Submission' of the year
||On or before your employees' last 2016-17 payday *
|Upgrade to AccountEdge Plus 2017
||From late March 2017 **
|Update employee payroll information for the coming year
||From 6 April
|Send the last Employer Payment Summary (EPS) of the year - if required
||By 19 May ***
Note: The FPS 'Final Submission' sends HMRC your employees' last 2016/17 payment information and additionally includes your end of year declaration. To send the Final Submission, simply tick the Final Submission option when sending your very last employee FPS of the year to HMRC.
* The HMRC online gateway will close on 19 April for year 2016/17 corrections.
** You will need to be using AccountEdge Plus 2017 to process pays dated 6 April 2017 or later. However, we recommend you upgrade to version 2017 as soon as it becomes available in late March. There is no need to wait until after you process the last 2016/17 pays, or until after 6 April, or until after you start the new payroll year before upgrading.
We will email all customers as soon as AccountEdge Plus 2017 is available for download. If you do not receive an email by late March, please go to the AccountEdge Support page to upgrade.
*** You only need to send an Employer Payment Summary (EPS) if:
• You need to inform HMRC about a reduction to the liabilities you will pay them for the final month of the year (this does not include Employment Allowance). For example, for recoverable amounts in respect of payments for SMP, SPP, OSPP, SAP, ShPP, ASPP or other recoverable amounts such as NICs holiday claim and CIS deductions taken from your payments as a subcontractor if your business is a Limited company.
• You forgot to send the Final Submission declarations on your last Full Payment Submission for the year.
• You didn't pay anyone in the final period of the tax year.
• You sent your last FPS early and you didn't pay anyone for 1 or more full tax months in the last tax year.
We recommend you additionally review HMRC's end of year guidance, which can be found by CLICKING HERE.
Order Your 2016/17 Form P60's Now
As an employer, you must provide a P60 to employees working for you at the end of the tax year.
For those using the AccountEdge Plus payroll, P60's can be printed onto HMRC's pre-printed forms.
If you have not already done so, we recommend that you order your form P60's from HMRC now, in preparation for printing them at year end.
Keep in mind that it could take up to seven days to receive your P60 forms from HMRC.
How to Order P60's Online
You can order your form P60's directly from HMRC by CLICKING HERE.
You will need to order:
'P60 (SingleSheet/Shortened) (2016-2017) - Certificate of Pay. For manual completion or with a Laser Printer.'
Note: This information is of a generic nature. For specific advice regarding your particular circumstances please seek assistance from your Accountant or HM Revenue & Customs as appropriate.