At year end you need to print and reconcile a number of reports. This article summarises the main reports you'll produce as part of the year end routine and explains who you need to send them to.
For further information about reconciling these reports and running the year end, please refer to our dedicated payroll year end site at www.sage.co.uk/pye
The P60 is an end of year summary which you must produce for each employee. The information shown on the P60 includes taxable gross pay, tax, NI, student loan and statutory payments. The P60s must be distributed to only those employees still working for you at 5 April 2021 by no later than 31 May 2021.
NOTE: Sage Instant Payroll v19.00 includes plain paper P60s, meaning you no longer need to buy stationery. Find out more >
P11 Deduction Cards PAYE and NIC
As part of your year end routine, you can print P11 Deduction Cards PAYE and NIC for each individual employee. These reports show a period by period breakdown of information including:
- Total taxable and NI-able pay.
- Tax, NI and student loan deductions.
- Statutory sick, maternity, paternity and adoption pay paid.
The P11 Deduction Cards aren't submitted to HMRC, however, you must keep them for at least three years in case you're inspected by HMRC.
P32 Employer's Payment Record
This report details the amount of money due to be paid to HMRC. The P32 report, which should be printed on a monthly basis, gets its information from values you update through Sage Payroll and shows the following information:
- Statutory payments
- Student loans
You don't need to submit the P32s to HMRC, but you should keep a copy of each month's P32, along with your payment records, for at least three years in case you're inspected by HMRC.