C F W Accountants LLP

Employers – Are you ready for the new tax year?

Talk to an expert

The new tax year begins on 6th April and for employers running monthly payrolls, the March pay run will be the last of the 2023/24 tax year.


Some things you will need to make sure you do and when you need to do them are listed below:

  • Send your final payroll report of the year to HM Revenue & Customs (HMRC). You may need to mark in your payroll software that this is the final submission for the tax year.
  •  Update your employee records before 6th April. This may include new tax code notices. If your software automatically updates tax code notices, then check these to make sure they are accurate.
  • Update your payroll software. If you use a desktop application to run your payroll then it will need updating from 6th April or whenever your software provider tells you to do so. If you use browser-based software to run your payroll then it is unlikely that you will need to run an update, but you should check.
  • Give your employees a P60 by 31st May at the latest.
  • Report employee expenses and benefits by 6th July at the latest.

If you need any help with your end of year payroll procedures or would like help or advice on preparing your report of employees expenses and benefits, please get in touch with us and we will be happy to help you.
See: https://www.gov.uk/payroll-annual-reporting
April 17, 2024
Is your business Disability Confident?

New Disability Confident guidance has been published to help managers recruit, retain, and foster the progression of disabled people and those with health conditions in the workplace.

Read article
April 15, 2024
Unleash the power of generative AI: A potential game-changer for your business

As accountants, we understand the importance of leveraging technology to drive efficiency and innovation in business operations. In this article we will introduce you to the concept of generative artificial intelligence (AI) and the transformative power it could have for your business.

Read article