03 Jan 2012
January 3, 2012

Payroll Year End – Be Prepared

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Now Christmas and the New Year are out of the way, we can start thinking about 2012 and being ready for the end of the payroll tax year, as time never ceases to march on.

Sage 50 Payroll 2012/13 is due for release in February, and I will be getting up to date with my training and accreditation so I can share the new features and help you out with a seamless upgrade.

In the meantime, how can you make sure you are all ready for running your payroll year end after 6th April 2012?

Firstly – you will want to make sure you have the appropriate P60 stationery, as although the software will submit your P14s electronically, your employees will still need a P60 showing a summary of their pay and tax for the 2011/2012 tax year.  You can get these printed from your regular stationery supplier, or order Sage stationery through Silicon Bullet.  Remember, the designs change each year so those left over from last year cannot be used. To see details of the designs take a look at the Sage website – but remember to call me for alternative pricing, as we can often offer a discount.

P60 2011/2012 Tax Year – Suitable for E-mail

If you get prior permission from your employees, P60s can be sent electronically via email, in secure password-protected portable document format (PDF).  This was introduced for tax year 2010-11 onwards and could not be done for previous years.  Any substitute P60s are required to carry the text ‘this is a printed copy of an eP60’ within the main body of the form – for more details see Specifications for employer substitute forms P14/P60 by the HMRC.

Secondly – have a read of this Top tips for Payroll Year End free download from Sage. This download gives you hints and tips about your obligations as an employer and tips for preparing for the year end with the relevant dates for submitting forms and payments.

Payroll Year End in Sage 50

Thirdly – if you feel you don’t have the time or experience to manage your year end alone, then why not book some refresher training, or allow us to ‘hold your hand’ while you process your year end? April is always a busy month at Silicon Bullet, so getting an early date in our diary for training is always a good idea.

Hopefully with the links and information I have passed on here you can be fully prepared for your payroll year end, and don’t forget to keep an eye on my posts once I have trained in the 2012 version so I can share all the new features with you.

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