A reminder about key end of tax year steps that your payroll team needs to take
As the 2021/22 tax year has now ended, employers need to carry out the following end of year procedures:
- Provide your employees with their P60 annual summaries by 31 May 2022;
- Prepare forms P11D for employees’ expenses and benefits by 5 July 2022;
- Update your employees’ payroll data for 2022/23, in particular their new tax codes; and
- Update your payroll software for 2022/23 if you haven’t already done so.
Here is a link to the HMRC guidance: Payroll: annual reporting and tasks: Overview - GOV.UK (www.gov.uk).
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