Employers running payroll need to report to HM Revenue and Customs (HMRC) on the previous tax year (which ends on 5 April), give their employees a P60 and prepare for the new tax year, which starts on 6 April.
HMRC have published important information for employers on gov.uk, which includes:
- help finishing the tax year 2021 to 2022;
- help starting the new tax year 2022 to 2023, by using their form P9X (2022) to find out which tax codes to change from 6 April 2022;
- information on the rates, limits and changes for 2022 to 2023 (and this includes the increase in National Insurance rates for the 1.25% Health and Social Care Levy); and
- their Employer Bulletin from February 2022 – this edition contains information about sending in the final payroll submission for the tax year 2021 to 2022.
Isn’t it time you outsourced your payroll?
One of the most important aspects of running a business is managing payroll, but payroll management can be a challenge for any business owner.
At BM Connect, a Beavis Morgan group company, we have the specialist technology and knowledge to keep you compliant, save you time and make running payroll a stress-free experience.
Recent developments in payroll such as auto-enrolment, apprenticeship levy and Covid-19-related schemes can all be managed by the team, as well as core services such as bacs processing. We can also assist with workplace pension schemes via our partner business, Integrity365.
We have industry-leading payroll software and payroll delivery systems making it easier and more efficient for you to access your payroll reports, payslips and statistics.
Find out more about BM Connect’s suite of outsourced bookkeeping, management accounting and payroll solutions and choose a package which is best suited to your needs and budget.
Contact Alex Nicholl or your usual Beavis Morgan partner.