With the payroll year end fast approaching, employers in the UK have several areas to consider ahead of April 2023 to ensure they are up to date and in line with current - and changing - legislation.
Having a detailed and structured year-end project plan that lists specific tasks and the task owners is very important, as it ensures all necessary activities are carried out and provides accountability.
The 2023/24 rates and thresholds for employers can be found here, and below we have covered some of the key areas you should be thinking about as we move into April 2023.
Key Dates
A few important dates to bear in mind are:
- 22 April 2023 – this is the deadline for paying your month 12 PAYE liabilities to HM Revenue & Customs.
- 31 May 2023 – this is the deadline for P60 distribution to all staff employed as at 05/04/23.
We have broken down our information into the key areas listed below.
Employment law
Core Payroll
- Salary - Sole Directors
- P9 tax codes
- National Minimum Wage and National Living Wage
- Student loans
- Statutory payments
- Statutory recovery
- Childcare Vouchers
- Earnings Arrestments & Court Orders
- Dividend Allowance
- Salary advance
- Employment Allowance
- Auto-enrolment & compliance
Legislative updates
- Additional bank holiday
- Holiday pay
- Health & Social Care Levy
- Relief for Veteran employment
- Relief for Freeport employment
- Universal Credit & Government Benefits
Please don't hesitate to get in touch If you would like to discuss any of this with a member of our Payroll team.
Partner & Head of Payroll Services
Michael McAllister
Michael is Partner & Head of Payroll Services, and has significant experience working with clients on both a domestic and international basis.
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