Running payroll in the UK can feel complex, especially with strict HMRC deadlines for PAYE (Pay As You Earn). Missing these deadlines can result in fines and penalties, so it's vital for small business owners and employers to stay on top of the dates. Here's a simple guide to the key payroll deadlines in the UK.
Real Time Information (RTI) – Every Pay Day
Every time you pay employees, you must submit a Full Payment Submission (FPS) to HMRC. This report includes details of wages, tax, and National Insurance. It must be sent on or before payday.
PAYE Payment Deadlines
- Monthly PAYE payments: If you pay monthly, PAYE tax and National Insurance must reach HMRC by the 22nd of the following tax month (19th if paying by post).
- Quarterly PAYE payments: Smaller employers may be allowed to pay quarterly. In this case, payments are due by the 22nd after the quarter ends (19th if by post).
Workplace Pension Contributions
If your business is enrolled in auto-enrolment, employee and employer contributions must also be paid on time. Deadlines usually align with payroll, but late payments can lead to compliance issues.
Year-End Payroll Deadlines
- Final FPS or Employer Payment Summary (EPS): Due by 5 April to close the tax year.
- P60 forms: Must be given to employees by 31 May.
- P11D and P11D(b) forms (expenses and benefits): Due by 6 July following the tax year.
Stay Compliant, Avoid Penalties
Late submissions or payments can result in HMRC penalties, which add unnecessary costs to your business. To avoid mistakes, many small businesses choose to outsource payroll.
At P&K Associates, we manage payroll and PAYE compliance for businesses across Edgware, Barnet, Harrow, and North London. Let us keep you compliant while you focus on running your business.