Send your final RTI submission to HMRC at the end of the financial year and give your employees their P60 reports. Then begin planning for the new financial year.
How it works
If you have posted your final pay run before 19 April, then we'll automatically let HMRC know it's your final submission in the last EPS report of the year. All you need to do is review your payroll reports and prepare your employee records for the new tax year.
Before you start
Make sure you:
- Check that your opening balances and organisation settings are correct
- Check the employee records and opening balances
End of year tasks
Update employee codes for the new tax year
Xero updates payroll to comply with updates to regulations but you will still need to make some changes to your employee information to prepare for the new tax year. For example, Xero automatically updates 1100L tax codes to 1150L, but we won't remove emergency tax codes W1/M1 or update any other tax codes.
Use HMRC's P9X form for new tax codes (gov.uk website) to work out which codes to change or carry forward for the new tax year.