Most of the tasks necessary for finalising the 2023/2024 tax year are automated, however, there may be some additional manual actions, as listed below, or actions you might need to complete if you provide benefits and expenses to your employees.

✅ Apply any final tax code changes from HMRC related to the 2023/2024 tax year. Note that your PayFit account must be set up to retrieve HMRC notifications. For further information, please refer to our Help Centre article.

✅ Submit your final FPS on your final pay date of the 2023/2024 tax year.

✅ Submit your final EPS on or before 19 April 2024 to notify HMRC that no further payroll submissions are due for the 2023/2024 tax year.

✅ Issue P60s to employees employed by you on 5 April 2024, on or before 31 May 2024. PayFit creates P60s and notifies employees that they're available at the same time as their March 2024 payslip.

ℹ️ If you have 250 or more employees, you'll need to submit Gender Pay Gap information to the government. The deadline for reporting your information is within one year of the snapshot date.

For public authority employers, the snapshot date is 31 March 2023 which means the deadline is 30 March 2024. The snapshot date for private, voluntary, and some public authority employers is 5 April 2023, with a deadline of 4 April 2024. For further information and guidance on how to extract the data from PayFit, please refer to our Help Centre article.

If you provide benefits and/or expenses to your employees within the 2023/2024 tax year, the following tasks may be applicable:

ℹ️ If you don't already payroll benefits and would like to start in the 2024/2025 tax year, you'll need to register to payroll benefits with HMRC on or before 5 April 2024. For further information, please refer to our Help Centre article.

✅ Create your P11D(b) including all employee benefits to calculate the Class 1A national insurance due to HMRC. This is created automatically the next time you run your payroll, after indicating in your PayFit account that your benefits and expenses for the 2023/2024 tax year are complete.

✅ Submit P11Ds and your P11D(b) to HMRC on or before 6 July 2024. This is sent by PayFit once you've indicated in your PayFit account that your benefits and expenses for the 2023/2024 tax year are complete. This must be actioned in your May 2024 payroll at the latest to guarantee your submission will be sent to HMRC on or before 6 July 2024.

ℹ️ Pay Class 1A NIC from P11D(b) submission on or before 22 July (or 19 July if paying by cheque).

✅ Issue P11Ds to all employees in receipt of benefits and expenses by 6 July. PayFit automatically creates and issues P11Ds to employees the next time you run your payroll, after indicating in your PayFit account that your benefits and expenses for the 2023/2024 tax year are complete.

✅ Create your P11D(b) including all employee benefits to calculate the Class 1A national insurance due to HMRC. This is created automatically the next time you run your payroll, after indicating in your PayFit account that your benefits and expenses for the 2023/2024 tax year are complete.

✅ Submit P11Ds and your P11D(b) to HMRC on or before 6 July 2024. This is sent by PayFit once you've indicated in your PayFit account that your benefits and expenses for the 2023/2024 tax year are complete. This must be actioned in your May 2024 payroll at the latest to guarantee your submission will be sent to HMRC on or before 6 July 2024.

ℹ️ Pay Class 1A NIC from P11D(b) submission on or before 22 July (or 19 July if paying by cheque).

If you report minor, irregular, or impractical benefits on a PAYE Settlement Agreement (PSA), you must;

ℹ️ Submit your PSA to HMRC by the 22 October.

ℹ️ Pay your PAYE and Class 1B NI liability by 22 October, or 19 October if paying by cheque.

Most legislative changes are applied to your PayFit account automatically once you run your March 2024 payroll. For further details on the legislation changes, please refer to our Help Centre article.

✅ Increase statutory parental pay rates from the first statutory week on or after 7 April 2024.

✅ Increase statutory sick pay rates from 6 April 2024.

✅ Update Class 1 national insurance rates for directors.

✅ Set up the Advanced Rate of tax for Scottish tax.

✅ Update Scottish tax rates and thresholds.

✅ Update thresholds for Student Loan plans.

✅ Remove M1 indicator from non-cumulative tax codes.

✅ Apply P9 notices. Note that your PayFit account must be set up to retrieve HMRC notifications. For further information, please refer to our Help Centre article.

ℹ️ Increase hourly rates for employees earning below the new national minimum/living wage rates increase from the first pay reference period on or after 1 April 2024. You'll receive a required action (notification bell) for any employees who's hourly rate is calculated as below national minimum wage. For most PayFit users, your pay reference period, i.e. which days you're paying your employees for, runs from 1 April to 30 April, in this case, you'll need to apply the increased rates immediately. If you have a different pay reference period, you may be able to apply these rates later. For further information, please refer to the national minimum/living wage section from our Help Centre article.

ℹ️ Check if you're eligible to claim small employer's relief (related to statutory parental payments) for the 2024/2025 tax year. For further information, please refer to our Help Centre article.

ℹ️ Check if you're eligible to claim employment allowance for the 2024/2025 tax year. If you're eligible, you'll need to indicate this on your PayFit account so your next EPS submission to HMRC includes the indicator. Without this, your HMRC account will be underpaid. For further information, please refer to our Help Centre article.