Processing your year end in Sage Payroll is easy. In a typical year end, there are only 3 things you need to do. We've broken them down into steps to help you understand everything involved.
Cause
Resolution
If you want to see a recorded webinar explaining the steps to process your year end, you can access that below:
1. Review your employees’ pay values
Before you submit your return to HMRC, You must make sure your employees’ taxable pay is correct. You can do this using the P11 reports.
From the Year End tab, in the Tax year to report ondrop-down, select the relevant tax year.
Select Review Employee Pay (P11), then View P11 for all employees.
Check that the information is correct, and that there are no missing periods that you can’t account for. If you find mistakes, correct them before you continue.
Once you’re happy that the P11s are correct, proceed to the next step.
Select Return to Year End. Select the Employee Pay reviewed check box.
2. Submit the final EPS
At the end of the tax year, submit a final employer payment summary (EPS) to HMRC. This final submission is different from the usual EPS submissions you've sent to HMRC.
The final EPS submission includes your end of year declarations. If applicable, you can also send the date your business ceased trading. You can submit your final EPS of the tax year within Payroll.
From the Year End tab, in the Tax year to report on drop-down, select the relevant tax year.
Select Submit EPS.
If you want to close your PAYE scheme, select the check box and enter the cessation date.
TIP:If you try to submit the final EPS before the cessation date, the submission fails. You should only submit the final EPS after the cessation date.
Select Next.
Check the following year to date values are correct.
Amount of CIS Deductions suffered
If you have a limited company and you've recorded CIS deductions on your EPS, the total is here.
The value reduces your tax liability.
Total Recovery & Compensation for Statutory Payments
If you paid statutory payments to your employees, this is the amount you claimed. It also shows any compensation.
This includes:
Statutory Maternity Pay
Statutory Adoption Pay
Ordinary Statutory Paternity Pay
Additional Statutory Paternity Pay
Select Next.
Check your company details and Government Gateway credentials are correct. Edit if required. NOTE:The most common reason for a submission failing is incorrect credentials. Make sure the use saved check box is clear, and check your details are correct.
Select Submit.
The Year End tab shows if the final EPS submission is successful or not. If it fails, you must correct the error and follow these steps again.
3. Produce your employees’ P60s
Produce a P60 for every employee who is still working for you on 5 April 2024.
Give your employees their P60s by 31 May 2024.
You don’t need to give a P60 to employees who left your company before 5 April 2024.
The P60 shows your employee’s total pay and deductions, including:
Their final tax code for the tax year
Their total pension income for the year, if applicable
The total amount of tax they paid during the year
Their total national insurance contributions for the year
Use the steps below to generate P60s as a .PDF form, which you can print or save.
You can also publish your P60's to Sage HR. You have Sage HR Essentials as part of your payroll.
NOTE:Check your business address is up to date to make sure the information on the P60 is correct. To change your business address, go to Manage Business Account, then Business Details.
You can't email P60s from SBC Payroll. You need to generate them and save them as a .PDF file. Attach saved PDFs to an email and email to individual employees.
Complete your final Pay Run for the tax year.
From the Year End tab, in the Tax year to report on drop-down, select the relevant tax year.
Select Print P60 Certificates.
Select View P60, alongside an employee name to generate an individual P60.
Use your browser options to download your P60s. The P60 PDF will go to your device's download folder. Microsoft Edge Browser options: Google Chrome Browser options:
Once emailed to your employees, tick P60 distributed to employees.
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