Year End Guide 2017-18

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This guide has been designed to help you complete the necessary year end tasks for 2017-18 and move forward to start processing and reporting 2018-19 payroll information. It can be accessed at any time by clicking ‘Help – Online – End of Year Guide’ from the main menu in the Payroll Manager software.

This page covers the following areas:

  1. Filing the last RTI submission for 2017-18
  2. Creating a new payroll data file for 2018-19 (including workplace pension minimum contribution increases)
  3. Producing P60s for employees
  4. New for 2018-19
  5. Important deadlines

The first two items on this list (filing the last RTI submission for 2017-18 and creating a new file for 2018-19) can actually be done in any order, although we recommend that you finish entering data for 2017-18 before creating the file for 2018-19.

1) – Filing the last RTI return for 2017-18

Your final FPS return for the tax year should be sent, as always, on or before the payment date of your employees. In practice this means that you should have filed all of your FPS returns for 2017-18 by 5 April 2018. HMRC also require that you send a ‘Final Return’ for 2017-18, which Payroll Manager automatically schedules for you by creating an EPS return. For full instructions please see the guide Year end filing 2017-18.

2) – Creating a new payroll data file for 2018-19

Payroll Manager stores the payroll information for each tax year in a separate data file on your computer. In order to continue processing payroll from April 2018 onwards, you need to create a new data file. Payroll Manager does this for you and carries forward all of the relevant payroll information from one tax year to the next. The guide Creating a new payroll data file for 2018-19 takes you through this process, and includes details about workplace pension minimum contribution increases.

3) – Producing P60s for each employee

The P60 summarises an employee’s total pay and deductions for the year. You need to provide a form P60 (either paper or electronic) to each employee on the payroll who was working for you on the last day of the tax year (5 April). The employee must receive their P60 no later than 31 May. See the P60 guide for more information.

4) – New for 2018-19

There are a number of items that will affect payroll in 2018-19, such as changes to Auto-enrolment minimum pension contributions, Student Loan repayment thresholds, and Scottish income tax rates. For more information on these items and others please see the New for 2018-19 guide.

5) – Important deadlines

19 April 2018 – You must have sent all RTI submissions for the tax year 2017-18 by this date. This includes any FPS re-submissions / amendments as well as your final EPS submission for the year. (You should of course still submit FPS returns on or before the pay date as per HMRC rules.)

HMRC will NOT accept FPS submissions for 2017-18 after 19 April 2018. If you attempt to file an FPS after this date your return will be rejected by HMRC. If you miss this deadline and need to submit pay information to HMRC for 2017-18 then you will need to do so via an ‘Earlier Year Update (EYU), which is NOT available in Moneysoft Payroll Manager and must be submitted by downloading and installing HMRC Basic PAYE Tools software.

31 May 2018 – You need to provide a form P60 (either paper or electronic) to each employee on the payroll who was working for you on the last day of the tax year (5 April). You must do this by no later than 31 May. Click ‘Forms – End of Year P60’ to produce these.

6 July 2018 – Expenses and benefits annual returns – P11D and P11d(b) are still sent as a separate submission to HMRC and should be sent by 6 July 2018 where applicable.

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