Please find our year end guide for 2024/25. Below are instructions on how to file your final submission, create new pay periods for the coming tax year, and how to deal with tax codes.
Details
HMRC Filing
As in previous years, there is no difference to normal filing of the FPS and EPS except that the final submission of year box should be ticked on whichever return is sent last (this will normally be the month 12 EPS, but may be an FPS if the EPS has been filed early).
When the final submission of year is ticked, a ceased date field will appear. Please note this should not be entered unless the company has ceased trading.
Pay Periods
In order to commit the last period of the year, InPay requires the first period of the following year to be set up in the system. This is done within the payroll - pay periods screen. We recommended using the generate button, as this will provide a wizard to create the entire year’s periods, rather than manually setting up each period one at a time.
Select your payroll and then click generate.
Fill out each section, if you are ticking specific date options, the date field will unlock enabling you to enter a date.
Once ready, click generate.
You will then see all the periods generated for you. You can click on each period and adjust dates if required. For full details on how to use these screens go to payroll - pay periods.
Committing Payroll
Upon committing your last payroll, InPay will make the additional amendments to records:
A new cumulative tax code record from 6 April 2025 for any employee on a wk1\mth1 code will be created.
If previously ticked, the employment allowance flag (and related information) will be removed from the company - details screen.
The £100,000 threshold for eligibility for Employment Allowance has been removed and the amount that can be claimed increased to £10,500. All other eligibility rules remain.
Please ensure this is populated correctly, the data will flow through to the P32, EPS and pay over to the HMRC
Tax Codes
Once committed you will be required to do the following tasks.
Apply any outstanding P6s received for 2024/25 via the HMRC data retrieve screen.
Apply any P9s via the HMRC data retrieve screen (this will apply on 6th April 25.)
There is no requirement to run a tax code uplift for 2025/26 as the standard tax codes remain at 2024/25 levels.
P60s
Once all of a company’s payrolls for 2024/25 have been committed into the 2025/26 tax year, P60s can be run within standard reports, the report P60 Pre Printed 2024-25 has been added under the statutory category. This can be printed out on plain paper.
For those using the Payslip Portal, the P60 will be directly available for the employee along with their payslip upon commit.
New Rates
All of the legislative information for the 2024/25 Tax Year can be found through the company - legislative details screen. This will include the well documented increase to Employer’s NI, whilst with the exception of Scotland, tax rates and thresholds remain identical to 2024/25.
A key change is that Small Employer’s Compensation rate for statutory reclaims has been increased from 3 to 8.5% for 2025/26. SER is applicable to employer's with a Class 1 National Insurance liability in previous years of £45,000 or less. The small business and small business (previous year) refer to 2024/25 and 2023/24 and are used determined by the last complete tax year before the employee’s Qualifying Week (QW) or Matching Week (MW) for adoptions.
