Payroll year end

Starting with closing the current tax year, this course will walk you through the entire process of making sure the closing tax year is handled appropriately before moving on to a new tax year and its considerations. The course also covers a range of common scenarios, such as what to do with leavers or overpayment recovery processes that span the end of the tax year.

After completing the course, you will be able to:

• Understand the requirements for completing the year-end process
• Adhere to the deadlines for the supply and production of end of year documents
• Update statutory information in the payroll system based on the order of priority
• Apply best practice techniques to overpayment recoveries made through the payroll that span several tax years.

•  The year-end process
  • Reconciling end of year values
  • Year end reporting
  • Correcting errors
  • Paying HMRC
• Year end documents
  • P60
  • P11D and P11D(b)
  • Annual statement of payrolled benefits
  • PAYE settlement agreement submission (PSA1)
• Starting a new tax year
  • Tax code changes
  • National Insurance certificates
  • Statutory payment changes
  • National Minimum Wage (NMW)
  • Automatic enrolment thresholds
  • Childcare voucher basic earnings assessments
• Other considerations for year-end
  • New starters
  • Leavers
  • TUPE considerations
  • Backdated pay awards
  • Overpayment recovery

Although there is no specific prior learning required this course will cover many payroll processes at a high level. Some familiarity with PAYE and NICs processes and HMRC reporting will be beneficial to gain the most out of this eLearning.

The P11D collection
Every year, employers are responsible for properly reporting all expenses and benefits they provide to employees. This collection of courses will allow you to learn more about this important requirement and ensure that your payroll remains compliant.