Employing somebody comes with a lot of responsibilities.
You, as an employer, are obliged to calculate and collect tax, National Insurance and pension contributions on behalf of your employees as well as pay your own share into their pension pot and National Insurance bill. <\/p>\n\n\n\n
The tax year runs from 6 April and is divided into tax months. There are important dates each month by which you need to complete certain tasks. It is crucial that you don’t miss those to avoid being fined. Read\u00a0our guide to key payroll tasks and deadlines to make sure you meet your statutory requirements or… you can always let us handle it for you, just\u00a0contact us<\/a>.\u00a0<\/p>\n\n\n\n – Monthly Tasks<\/strong><\/p>\n\n\n\n Every time you pay your staff:<\/strong><\/p>\n\n\n\n In the next tax month<\/strong><\/p>\n\n\n\n You can view your bill from Full Payment Submission online from the 12th.<\/p>\n\n\n\n Employer Payment Summary<\/strong><\/p>\n\n\n\n Send an Employer Payment Summary (EPS) as well as a Full Payment Submission (FPS) to:<\/p>\n\n\n\n Don’t send FPS if you haven’t paid anybody in a tax month – send an EPS instead.<\/p>\n\n\n\n EPS deadlines<\/strong><\/p>\n\n\n\n A deadline for sending an EPS is the 19th of the following tax month.<\/p>\n\n\n\n Annual reporting and tasks:<\/strong><\/p>\n\n\n\n Send final FPS on or before last payday of the tax year (5 April).<\/p>\n\n\n\n Update payroll records<\/strong><\/p>\n\n\n\n Issue employees with a P60<\/strong><\/p>\n\n\n\n Give a P60 to all employees who worked for you on the last day of the tax year. <\/p>\n\n\n\n You must do it by 31 May.<\/p>\n\n\n\n Report expenses and benefits<\/strong><\/p>\n\n\n\n If you provided your employees with benefits and expenses, you need to send P11D and P11D(b) forms at the end of the year. The deadline is 6 July. By this date you also need to provide your employees with a copy of the information sent to HMRC.<\/p>\n\n\n\n If you register before the tax year starts, you can avoid having to send P11D forms – you can simply collect tax due on benefits through your payroll. You still have to complete P11D(b) though. <\/p>\n\n\n\n Paying HMRC<\/strong><\/p>\n\n\n\n Pay Class 1A National Insurance due on expenses and benefits by 22 July.<\/p>\n\n\n\n If you have any questions, or are considering outsourcing payroll – contact us<\/a>. <\/p>\n\n\n\n We can help you meet your statutory requirements for a low, monthly fee. <\/p>\n","protected":false},"excerpt":{"rendered":" What every employer needs to know Employing somebody comes with a lot of responsibilities.You, as an employer, are obliged to calculate and collect tax, National Insurance and pension contributions on behalf of your employees as well as pay your own share into their pension pot and National Insurance bill. The tax year runs from 6 April …<\/p>\n