HMRC has reminded employers to prepare for the last Full Payment Submission (FPS) or Employer Payment Summary (EPS) of the tax year.
The last FPS or EPS must include an indicator that it is the final submission. This informs HMRC everything has been sent and it can finalise its records for the organisation and its employees. Where the commercial payroll software does not include an indicator on an FPS, HMRC advises sending the last FPS and then an EPS with the indicator ticked.
P60s will also need to be issued to employees if they were in employment on 5 April 2018. Employers have until 31 May 2018 to do this.
More information on annual reporting, including what to do if you make a mistake can be found here.
In addition to submitting the last FPS or EPS, employers must also report any expenses and benefits received by employees during 2017-18.
For those who registered online on or before 5 April 2017 and are using the Payrolling Benefits in Kind (BiK) process, the following will need to be sent:
a P11D for any benefits not payrolled, and a P11D(b) to tell HMRC about the Employer National Insurance contributions due on all benefits (including the payrolled ones).Employees will also need to receive a letter telling them which benefits were payrolled and the amount of the benefit.
If an employer didn’t register online on or before 5 April 2017 to payroll BiK, then they’ll need to send:
a P11D for all benefits, and a P11D(b)Those wishing to payroll BiK for 2018-19 should register online on or before 5 April. For those who payroll informally, without registering online, a note needs to be put on each P11D to show which benefits have been payrolled.
More information on payrolling benefits can be found here.
