Understanding Payroll Tax Year End: 2024’s Checklist

The payroll Tax Year End refers to the final submission of the tax year made to HMRC. This process involves sending essential information such as the Full Payment Submission (FPS) and Employer Payment Submissions (EPS). The primary tasks include reporting to HMRC on the previous tax year, which ends on the 5th of April, giving employees their P60s, and preparing for the new tax year, which starts on the 6th of April.

Key Dates for Payroll Year End

It’s essential to be aware of the critical dates surrounding the payroll Tax Year End. The HMRC payroll tax year runs from the 6th of April to the 5th of April the following year. Here are the key dates you need to mark on your calendar:

  • 5th April: The 2023/24 tax year ends on this date.
  • 6th April: The new tax year (2024/25) starts.
  • 19th April: This is the deadline for the final submission of the 2023/24 tax year.
  • 31st May: Your employees need to receive their P60s by this date.

Legislative Changes for the Tax Year

Each tax year brings updates that you need to be aware of to ensure compliance. These changes may involve personal allowance thresholds, income tax rates, national insurance contributions, national living wage, and national minimum wage, among others. It’s crucial to stay updated with these changes to prevent any discrepancies or issues with HMRC. For more information on the latest payroll related legislation, check out our full list of articles here.

Steps to Prepare for Payroll Year End

  • Gather All Necessary Data: This includes all payroll information for the previous tax year. Ensure everything is accurate and complete to prevent any issues during the submission.
  • Reconcile All Previous Periods: Check your reports against the HMRC website to ensure they balance. Any discrepancies should be investigated and rectified.
  • Understand What Submissions You Need to Make: Determine if you need to send an EPS or just an FPS. RTI submissions can be complex, so understanding which ones you need to make is crucial.
  • Prepare for Apprenticeship Levy Payments: If you have hit the Apprenticeship Levy threshold at any point during the year, you will need to submit an EPS.
  • Create a Checklist: Having a checklist can ensure you have followed all the right steps and haven’t missed anything crucial.

The Role of Outsourced Payroll in Year End Tasks

Outsourcing your payroll tasks to a professional service provider can significantly alleviate the stress and workload associated with the Tax Year End. These providers possess the expertise and resources to manage all payroll tasks accurately and efficiently, ensuring full compliance with HMRC regulations. They can handle everything from data collection and reconciliation to report preparation and document submission.

Benefits of Outsourcing Payroll Services

  • Time and Cost Savings: Outsourcing payroll services can free up time for your internal team to focus on other critical business tasks. It can also save costs associated with hiring and training in-house payroll staff.
  • Compliance Assurance: Professional payroll service providers are well-versed in all tax and payroll regulations, ensuring full compliance with all HMRC requirements.
  • Expertise and Experience: These providers have a wealth of knowledge and experience in payroll management, offering you peace of mind and assurance in their abilities.
  • Improved Accuracy: Professional payroll providers use advanced systems and software to ensure the highest level of accuracy in all payroll tasks.

Choosing the Right Outsourced Payroll Provider

When selecting an outsourced payroll provider, it’s essential to consider their reputation, experience, the range of services they offer, and their customer support. Ensure they have a proven track record of delivering high-quality payroll services and can handle all aspects of payroll, including Tax Year End tasks.


The payroll Tax Year End can be a daunting time for businesses. However, with the specialist assistance of an outsourced payroll provider, you can ensure a smooth and efficient process. By outsourcing your payroll tasks, you can save time, ensure compliance, and focus on other core business functions, leading to increased productivity and business growth.

Get in Contact

Outsourcing your Payroll Services can be a game-changer for your business. It allows you to focus on your core competencies while leaving the payroll management to the experts.

Embrace the future of your organisation today and unlock the benefits of outsourced Payroll Services in the UK. Get in touch with our specialist team today for a free, no-obligation consultation.