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Summary of year end reports

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Summary

This guide provides a summary of the reports available in Sage Instant Payroll to help you run the year end.

Description

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

Resolution

P60

The P60 is an end of year summary which you must produce and issue to each employee. The information shown on the P60 includes taxable gross pay, tax, NI, student loan and statutory payments. Your employees are entitled to a P60 if they still work at your business as of 5 April 2022, remember to provide employees with their P60s by the deadline of 31 May 2022.

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:

  • Tax
  • NI
  • 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.