Reduce the stress of the end of tax year with tools made for Independent Schools
Independent schools have such a variety of staff, and at this time of year the payroll department really does need to run as smoothly as possible so that all employees receive the correct paperwork, in accordance with HMRC requirements, to finish end of year and of course to start the new tax year correctly.
There will be resources in the customer centre, once the next release is made available, to help you with some of the legislative process requirements of the tax year end with passFINANCE. However, one large part of the end of year tasks is to give a P60 to all employees.
Giving employees a P60
Each employee who was working for you on the last day of the tax year (5 April) must receive a P60, summarising their total pay and deductions, by May 31st. A complex reporting task in itself, made more arduous by the fact that most organisations can no longer order paper P60s from HMRC.
Electronic P60s make the end of tax year easier
Going into the new financial year may be the best time to consider moving to an electronic P60 solution.
Electronic P60s, a standalone solution or included within WCBS ePAYSLIPS, will save your school both time and money by removing the production and distribution costs of printing P60s. Plus, your staff will also enjoy the flexibility and security of logging in to a user-friendly online portal to retrieve these documents.
It’s better to be safe than sorry
An email is easily forwarded by accident or hacked into, all outside the control of the finance and payroll systems.
With an electronic P60 solution all content and historical information is stored securely, which means users will never have the risk of deleting, losing or accidentally forwarding P60s.
Want to save time and money all year round?
All the benefits of our Electronic P60 solution also apply to WCBS ePAYSLIPS. The full solution would mean your Payroll team will save time all year round, with each monthly run of payroll.
Still need paper P60s?
Our passFINANCE customers can order P60s in our Customer Centre. We offer different quantity and pricing options. This year the deadline for orders is Friday 5th March 2021.
