The P60 deadline: Don’t get caught out by late fees

As an employer, you need to provide your employees with a P60 by the 31st of May each year. The P60 summarises their total pay and deductions for the tax year. If anyone was working for you on the last day of the tax year, then they need to be given a P60 for the financial year by 31st May.

Managing your P60 administration

The payroll software you use should automatically generate employees’ P60s for you. With BrightPay Payroll Software, managing your P60 administration is a piece of cake. You’ll love how easy it is to view, print, download or email employees’ P60s right from within the software.

P60 tips to remember:

If you need to make corrections to a P60, you can issue a new one marked “replacement,” or send the employee a letter detailing the changes.
If an employee has more than one job, they’ll get a P60 from each employer. You don’t have to worry about collating income tax information from multiple employments.
You may be asked to resend a P60 to employees throughout the year, when they need them for things like mortgage applications. This is where having an employee self-service portal comes in handy, as employees will be able to view, print or download their P60s whenever they need them.

Get it done early

As an employer, you can ease the task of P60 distribution by issuing the forms from the 5th of April instead of waiting until the last minute (deadline being May 31st). This way, you can tick this important task off your list.

What happens if you don’t comply with your P60 responsibilities?

Employers who fail to issue a P60 by the deadline of the 31st of May could face hefty fines from HMRC. The initial penalty for late issuing is £300 which is followed by an additional fine of £60 per day for each day that you fail to issue the P60. Therefore, it’s important to prioritise submitting your P60 forms in good time.

If you’re considering using BrightPay to take care of your clients’ payroll, including automated P60 administration, why not book a free online demo today and see the software in action.

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This content may have been developed with the assistance of AI tools. Content is reviewed by a member of the Bright team before publication. Guidance on legislation can be obtained from your industry body.

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