Top 4 Payroll Jobs to be Done By FY23

FYE is a brutal time of year for payrollers. It is the most common time in any business cycle for head office payroll employees to hand in their notice, you can check out the jobs sites now and see just how many Payroll Exec vacancies have just been published in the last few days. It’s true that hospitality payroll can be hard enough to tackle at any point in the year, flexible hours, enrolments, holiday etc, etc, etc can make it painful enough, let alone the additional burden that the upcoming deadlines of a year-end brings. If you are meant to be preparing your year-end payroll responsibilities right now, and found this blog while procrastinating, well, we sympathise and offer you hope and a little steer on some key things to get right. 

How not to stress over your FPS

 Sending a final Full Payment Submission (FPS) can be a huge job, but it is critical to identify and rectify any potential errors before submission. While this must be done before or on your employees’ payday, getting organised early can avoid the agony of retrospective adjustments. 

Doing this manually on spreadsheets by hand will inevitably be time consuming and inaccurate, however a good payroll system should handle and automate all of this for you. When you run the final period of a tax year in S4labour, the ‘Final submission for year will automatically put’ indicator on the FPS for you – if no employees are being paid, this will go on the EPS.

Get in to TAX CODE mode

For each employee working for you either old or new, on the 6th of April you will need to have a payroll record and the correct tax code to use in the new tax year. You should check the P9X document published by HMRC that explains what tax codes employers must change to on 6 April. Here is the all important link to the HMRC website where you can view the P9X document – https://www.gov.uk/government/publications/p9x-tax-codes

This document is not for the faint hearted, but the good news is that your payroll software should keep you and your employees up to date automatically. S4labour has a direct link to HMRC, and their tax updates are received via electronic updates to make the process seamless.

Always P60 before you Party

At the end of each final year and no later than the 5th of April, all employees must be given a P60 that summarises their total pay and deductions for the year. It’s good to get organised with your year end jobs, but processing P60’s shouldn’t be done before the final payslip has been issued.

The P60 is auto generated when the final payroll of the tax year is completed and accessible to employees via their S4labour employee portal on final pay day for the tax year.

Its Getting Late to do an Update

Each year, businesses must get updated and aligned with the latest rates and thresholds for Income Tax, National Insurance, Student Loan Repayments and National Minimum Wage. There is a great deal of information on this on the HMRC website. However, for those who don’t have time to keep track of the annual changes (or factor in more than 7 hours of sleep at night), your payroll should do all of this hard work for you.

HMRC updates are automatically done through S4labour each year, so you do not have to worry.

 

If you would like to know more about how Payroll from S4labour, you can book a demo below.

CJRS – News Flash

CJRS – News Flash

Are you prepared for the end of the CJRS?

As the CJRS closes on 30‌‌ ‌September, you will be thinking about the next steps for your employees and your business.

In order to help you prepare we thought we would share HMRC’s FAQ publication with some useful advice and guidance.

If you have any questions or require further support, contact one of our Payroll team who will be happy to support you.

What should you do when the scheme closes?

You will need to:

  • Bring your employees back to work on your agreed terms and conditions
  • Agree on any changes to your terms and conditions with them
  • Consider ending their employment.

When making decisions about how and when to end furlough arrangements, equality and discrimination laws will apply in the usual way. For more information search ‘Job Retention Scheme’ on GOV‌‌.UK.

Can you claim CJRS for employees on notice periods?

Employers cannot claim CJRS grants for any days an employee is serving a contractual or statutory notice period, including notice of retirement, resignation or redundancy.

What support is available for my employees if I’m unable to bring them back to work?

There’s UK Government support available for your employees through the JobHelp website, offering a range of support, training and advice, to help people find their next opportunity. This includes the Kickstart scheme and other Plan for Jobs support measures, along with advice on learning new skills and finding who’s recruiting. Search GOV‌.UK for ‘Plan for Jobs programmes’ for more information.

What support is available to help my business grow after the CJRS has closed?

If you are looking to grow your business, the UK Government Help to Grow scheme offers management and digital programmes, to help you learn new skills and reach more customers. To register your interest, search GOV‌‌.UK for ‘Help to Grow’.

If employers are considering taking on new employees, there’s a range of UK Government support available to help them, including placements, apprenticeships and training opportunities. Search ‘Plan for Jobs programmes for employers’ on GOV‌‌.UK to find out how your client’s business could benefit.

What if I claimed too much in error?

If you have claimed too much CJRS grant and you have not already repaid the overclaimed amount, you can repay as part of your next online claim. If you claimed too much but do not plan to submit further claims, you can make a repayment online through HMRCs card payment service.

You must tell HMRC and repay the money by the latest of whichever date below applies:

  • 90 days from receiving the CJRS money you are not entitled to
  • 90 days from the point circumstances changed so that you are no longer entitled to keep the CJRS grant.

If you don’t do this, you may have to pay interest and a penalty as well as repaying the excess CJRS grant.

What if I haven’t claimed enough?

If you made a mistake in your claim that means you received too little money, you’ll need to amend your claim within 28‌‌ ‌calendar days after the month the claim relates to – unless this falls on a weekend or bank holiday, where the deadline is the next weekday.