How to prepare your business for payroll year end
We’re now well into 2016, and whilst many people are settling into the new year, for business owners and managers it’s often one of the busiest times of the year. With payroll year end fast approaching, how prepared are you?
Here are some of the key dates you’ll need to know:
What you need to do
Send your final payroll report of the year
Update employee payroll records
Update payroll software
Give your employees a P60
Report employee expenses and benefits
On or before your employees’ payday
From 6th April
From 6th April
By 31st May
By 6th July
Our website has a dedicated payroll year end 2016 insight page where you’ll find lots of handy tools including the free payroll year end factcard for 2015/16. We also offer payroll year end training to cover legislation and software as we get nearer to the April 5th deadline.
Additionally, IRIS also offer P60s and payslips, to help ensure that your business has everything it needs to remain compliant with HMRC.
If you have all of your stationary needs sorted, why not register for the IRIS Payroll Year End Pack where amongst other things you’ll learn:
- Year-end processes under RTI
- What changes will affect you going into the 2016/17 tax year
- An introduction to auto enrolment (workplace pension reform)
The course is delivered online which gives you the flexibility to log-on and learn whenever and wherever you like, however if you prefer on-site training we can certainly arrange it for you.
Did you know that IRIS have also created the IRIS OpenPayslips software to provide your employees with digital payslips rather than physical copies? This often results in a significant cost saving as it reduces postage and paper costs, while remaining flexible enough that employees who prefer hard copies can have them as well.
Get in touch and see how IRIS can help you with stationary, payroll year end training, and our helpful payroll year end pack today.