Roll Over to New Tax Year

Processing the tax year-end and starting the new tax year in FreshPay #

In order to complete the year-end process the following steps need to be completed.

Preparing for year end:

1. Filing the last RTI submission for 2023-24

2. Producing P60s for employees

3. Creating a new payroll data file for 2024-25

Please find below the step by step guide on how to perform each task. We have also included some useful deadlines for you to note.

Filing the last RTI submission for 2023-24

At the end of the tax year, you need to send a Final EPS submission to HMRC. There are 2 ways of doing this in FreshPay: one sends the EPS and P60s automatically.  The other is manual, which you may choose to use if you have multiple pay frequencies or CIS suffered.

1) To process it automatically, before finalising your payrun, click the “Settings” next to your Payrun Summary Status

Tick both boxes on the settings.

Now finalise your pay run #

On 5th April, this will automatically send the Final EPS to HMRC and upload all P60’s to the employee portal.

2) To do this manually, firstly, finalise all pay periods and ensure any CIS suffered has been entered. When you are ready to send the final EPS to HMRC, click the ‘Send Final EPS button as shown below:

You will then see the box below, where you can send the final EPS manually:

Producing P60s for employees #

Prior to finalisation, you can tick the box to “Generate and publish P60 on the employee portal”. This will then generate all P60s on 5th April and upload them to the portal. If you choose to do this manually, or need them generated prior to this date, you can do so via the employee list once the final pay run has been finalised. Select the relevant employees (or “All”) and click “P60”.

Creating a new payroll for 2024-25 #

Go back to the pay run summary screen, click on “set up next tax year”

You will then have the option to change paydates, notify dates and also carry forward the below:

You will then see the summary, if you are happy select next.

The next screen will be the company setup, where you can make changes if required and approve:

If you want to move any employees from one pay frequency to another, now is the ideal time to do so. You can do this by un-assigning them from the payroll then re-assigning them to the new frequency.

Your year- end tasks are complete!

Important deadlines #

April 5th – Deadline to submit P46(Car) electronically for the quarter from 6 January to 5 April April 19th – Deadline for the final PAYE submission for the 2023/2024 tax year

May 3rd – Deadline to submit P46(Car) printed form for the quarter from 6 January to 5 April May 31st – Deadline for providing employees with their P60 for 2023/2024 tax year (only compulsory for those who were employed on the final day of that tax year

July 5th – Last day to agree the operation of a PSA for the previous tax year with HMRC

July 6th – Deadline for submitting forms 42, EMI40 and other share related benefits

July 6th – Deadline to provide employees with their copy of the P11D for 2023/2024

July 6th – Deadline for submitting P11D and P11D(b) to HMRC for 2023/2024

August 2nd – Deadline to submit P46(Car) for the quarter from 6 April to 5 July

October 22nd – Deadline to electronically pay Class 1B NICs due on the PSA for 2023/2024. November 2nd – Deadline to submit P46(Car) for the quarter from 6 July to 5 October. February 2nd – Deadline to submit P46(Car) for the quarter from 6 October to 5 January