U.K. Publishes End of Year Employer Payroll Guidance

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By Molly Ward

Feb. 17—The United Kingdom HM Revenue and Customs (HMRC) published Feb. 15 Issue 58 of the Employer Bulletin, providing guidance to help employers prepare final submissions for the tax year ending April 5, 2016.

The Employer Bulletin contains tips on preparing to make final submissions for the tax year and information about what employers need to do if there is a mistake in a final submission.

Under amended Pay As You Earn legislation, employers are no longer required to complete the Full Payment Submission (FPS) or Employer Payment Summary (EPS).

The bulletin also covers:

  •  the current two year temporary reporting relaxation ending April 5, 2016, for employers who on April 5, 2014, employed no more than nine employees
  •  information on the Scottish rate of income tax which will match the U.K.'s effective April 6;
  •  the employment allowance increasing to 3,000 pounds ($4,299) effective April 2016;
  •  the reporting and deducting of tax on benefits in kind in real time and
  •  the national living wage which is to be effective April 1.
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    HMRC publishes the Employer Bulletin six times a year.

    To contact the reporter on this story: Molly Ward at mward@bna.com

    To contact the editor responsible for this story: Michael Baer at mbaer@bna.com

    For More Information

    Employer Bulletin Issue 58 can be found at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/500142/employer-bulletin-february.pdf

    More information on payroll issues in the U.K. can be found in the U.K. country primer.