End of Year PAYE Filing, Minimum Wage and Workplace Pension Increases

It’s that time of year where we need to think about your end of tax year filing for your PAYE Scheme.

This is what you must ensure is processed by the deadlines stated below:

1. Send your final full payment submission to HM Revenue & Customs by 19^th April 2018
2. All PAYE liabilities should be paid by 19^th April 2018 for the year.
3. P60’s given to all staff by 31^st May 2018
4. Notify HM Revenue & Customs of all employee expenses and benefits paid using form P11D by 6^th July 2018. (please notify us if there are any reports to make to HMRC)
5. Pay any Class 1A National Insurance to HM Revenue & Customs due on these expenses and benefits by 19^th July 2018.

 

It is also time to prepare for the next tax year. This will be setting up your payroll files so that you are collecting the correct amount of tax from your employees and paying them in line with government changes to national minimum wage.

There is also an increase in the pension contributions that you are required to operate. These changes for the new tax year are commencing on 6^th April 2018

National Minimum Wage increases as follows:

Year	25 and over	21 to 24	18 to 20	Under 18	Apprentice
April 2018	£7.83	£7.38	£5.90	£4.20	£3.70

 

Auto Enrolment Pension contributions increase as follows:

Year	Employer Minimum         Contribution	Staff Contribution	Total Contribution
April 2018	2%	3%	5%

 

This means that where we process your payroll on your behalf we will automatically apply these increases where applicable so that you are meeting your legal requirements as an employer.

If you are currently completing your own payroll and would like any help please do get in touch with us.