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Payroll Year End 2022/23 Key Dates and Responsibilities

Payroll Year End is fast approaching, and love or hate it, it is an essential part of running a business and must be done. 

To help create a stress-free process, we have put together a simple check-list of your key obligations, and deadlines you need to adhere to.

What is Payroll Year End?

The Payroll Year End is the final submission you make to HMRC for that tax year, in this case, it will be the final submission you make for the 2022/23 tax year. You need to send a Full Payment Submission (FPS) and Employer Payment Submissions (EPS). 

The 2022/23 tax year ends on 5^th April 2023 and the 2023/24 tax year begins on 6^th April 2023.

Payroll Year End tasks and deadlines

When it comes to tasks and deadlines there can be a lot to remember so we have put together a quick, bullet point guide to make sure you don't miss any.

• Before 5^th April 2023: Run your final employee pay for 2022/23 tax year.
• Before 6^th April 2023: Update your payroll software (don’t worry, your Pegasus Partner will contact you to arrange this).
• Before 6^th April 2023: Update employee payroll records and check you have paid employees correctly to date, with no errors.
• On 5^th April 2023: Declare your payroll benefits.
• By 19^th April 2023 submit your FPS for the 2022/23 tax year, and EPS if required.
• On/before 31^st May 2023: Send all employees a P60.
• On/before 6^th July 2023: Declare your expenses and benefits and submit your P11D and P11D(b) forms.

Final thoughts…

Your payroll year end need not be daunting and confusing when you have the right advice and software to guide you. 

Remember to prepare, check, and review! 

For more information or advice about completing your payroll year end with Opera 3 Payroll please contact your Pegasus Partner.

For more information about Opera 3 Payroll please contact us today.

Posted On: February 23, 2023