2019/20 Payroll Year End – What you need to do

The 2019/20 tax year end finished on 5/4/2020, therefore it is now time to close down this year on your payroll software and open up 2020/21.

Follow this easy guide to completing your payroll year end:

(1) Carry out a final review of your 2019/20 tax year. Have all leavers been registered and issued with P45s? This should be done before the final submission is made to HMRC.

(2) Prepare and issue all members of staff who were working with you on the final day of the tax year with P60s. This important document summarises their pay and deductions for the year, and needs to be issued by 31st May 2020.

(3) Send your final FPS report to HMRC for 2019/20, by 19th April 2020.

(4) Process your year end, making sure the processing date is set for 5th April, and set up the new tax year 2020/21 on your payroll software.