With 30 June fast approaching now is the time to ensure your payroll house is in order.
Payment Summaries (also known as group certificates) are required to be sent out to all employees by 14 July. This doesn’t give you much time to work through any anomalies that may arise, especially if you have other year-end accounting duties that need to be completed.
You need to start thinking about the following:
As you can see there is a lot to be thinking about and it is a much easier (not to mention less stressful) to have these things sorted before the end of financial year.
Work out a plan, tick tasks off as you go and you will be in a good position for a nice, smooth year end.
If you’re not sure, it pays to seek advice. The last thing you want is for employees to be using the wrong figures on their tax returns.