Reporting your Full Payment Submission during the festive season

During the Christmas period many employers pay employees earlier than they would normally. For those businesses that do this, here is a timely reminder that you will need to report your normal payment date on your Full Payment Submission (FPS).

Therefore, if you pay your employees the week before Christmas on 17‌‌‌ ‌December‌‌ ‌2021 because you close your office during the festive season, but the usual payment date is 31‌‌ ‌December‌‌ ‌2021, then you must report the payment date as ‘31‌‌ ‌December‌‌ ‌2021’.

This helps to provide protection for your employees’ eligibility for Universal Credit, because reporting an early payment could affect further entitlements.

You can use your payroll software and simply follow the instructions to send the FPS to HM Revenue and Customs (HMRC) before the Christmas payday whist still entering the regular payday even if you pay them earlier or later.

Be careful though as you don’t want to send the submission too early as you may need to send a corrected FPS if any employee information changes such as someone leaves or there’s a change in tax code.

Payroll support for your business

If you’re looking to save your business time, money and stress, then it may be time to outsource your payroll. We can help you manage deadlines and provide necessary reports for HMRC.

We work directly with individual business owners, small to medium enterprises as well as HR departments in large businesses to implement payroll solutions that are right for the company.

We offer accountancy services to help your business manage everything financial, including Payroll services, Bookkeeping, Audits, and more. Let us help you navigate this complex but crucial business function. Contact Our Accountants in Oxted to get started!