Does payroll end on week 52 or do you have a week 53 due to leap year?
Payroll Year End there are a number of things that your business needs to complete before submitting to HMRC.
Key Dates to Remember:
Does payroll end on week 52 or do you have a week 53 due to leap year?
Employees working on the final day of the tax year, 5 April, will need to receive a P60 by 31 May.
Has anyone left the business?
Process before submitting
If required to reclaim EPS
Reclaim statutory maternity, paternity payments
Employment Allowance
National Insurance contributions holiday
Apprenticeship Levy
Does the running of your business include several repetitive tasks? If there’s no guidance or procedure in place, it’s possible for some of the steps in the process to get forgotten. This is why checklists are important.
People get distracted, and when something gets forgotten, it’s much harder to recover than if they’d completed the task right in the first place.
Guidance every step of the way makes sure something is completed perfectly every time.
Read More: Why is a Checklist Important?
We all carry enormous knowledge and experience that we want to apply effectively, but we are all prone to make mistakes. There’s only so much we can store in our heads without forgetting something. How to maximise our use of knowledge?
The simple answer to this problem is to use checklists.
How many types of checklists are there? Two. What are the two types of checklists? Read-Do and Do-Confirm checklists are about how you use checklists.
Read More: Types of checklist: What are the two most powerful Checklist Types?
A checklist is a way to document each step needed to complete a task. A detailed set of instructions, a guide of how something is done.
Checklist software allows you to document every step of a process to be used over and over again.
Read More: Checklist Software