We are nearing the end of the 2023-24 tax year and to help us all through a smooth year end process, there are certain things you can do to assist with your 2024 year end preparations:
Data cleansing
Check your payroll reports, payslips or employee data on the MyEpaywindow portal. Are the employees’ titles correct? Do you have the correct name spellings? Are their home addresses up-to-date? Are there any missing National Insurance numbers? Are there employees that have left your employment during the year but are still on the payroll? Once the March payrolls are finalised and the P60s are created, we CANNOT amend any incorrect data on them.
Correct March payrolls
As March is the final payroll run of the 2023-24 tax year, it is vital it is correct first time. Please try and avoid any re-runs. Ensure all timesheets are included. Ensure all starters are included. If any payments are missed, those employees will lose their March free pay allowances and could pay more tax and National Insurance than necessary. There is a short window between finalising your March payroll, closing down the tax year, creating the P60s, updating new pay rates in time for the April pay run. Once the year end process starts, any re-runs for March will take longer and will hinder the year end process.
