Everything you need for year end

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The end of the tax year isn’t far away and we really need you to be on top of things. Luckily, we’ll be with you all the way, helping you stay updated and in the know with all of the key dates.

Those all important dates for your calendar

  • Locks will be lifted on 4th April so your payments can be processed in the current tax year.
  • The last payrolls of the current tax year will be processed on 5th April.
  • Payments made after 5th April will be classed as part of the new tax year.
  • Your P60 will be emailed directly to you by 27th April.
  • Check your National Insurance (NI) number is correct by 1st April.

Here’s all the information that matters

1. Locks will be lifted on 4th April 2018

This will be done to make sure that all pay and expenses can be paid in the current tax year. You can also lift your locks yourself on MyParasol if you want this sooner. They will not be automatically reapplied so make sure you reapply them from 6th April. Find out more about locks here.

2. Payments made from 6th April will be classed as part of the new tax year

The last day for making payments in the current tax year will be 5th April. Any payments made after this date will be classed as part of the new tax year. Make sure you enter your timesheets before Friday 30th March to ensure that all payments are paid to you during this tax year.

3. Your P60 will be emailed to you by Friday 27th April

Check that we’ve got the correct email address for you on MyParasol. If your P60 is sent to the wrong email address, we will be unable to reissue it.

4. Please check your National Insurance number is correct before 1st April

This will allow us to send your P60 on time and avoid any delays.

5. Minimum workplace pension contributions will soon be increasing

The minimum amount paid into your workplace pension, both by you and by us, is going to increase. The table below shows what the base contributions are and the dates they will rise. Find out more at: http://www.workplacepensions.gov.uk/employee/

View a summary of the changes to tax rates, tax thresholds and tax allowances for tax year commencing 6th April 2018

If you have any questions about what you need to do to be ready for year end or anything else for that matter, then please call us on 0844 875 0079.