In addition to your full payment submissions, which provide HMRC with the information they need to confirm, throughout the year, that each employee’s tax and NI liabilities are being deducted correctly, you also need to submit an employer payment summary (EPS).
What is an Employer Payment Summary?
An employer payment submission is used to report values to HMRC that can’t be included on the full payment submission (FPS). These values can affect the payments you make to HMRC on a monthly or quarterly basis.
When should an EPS be submitted?
An EPS should be submitted in the following circumstances:
- If no payments to employees are made within the current or past pay period meaning no FPS has been submitted
- To declare a future period of inactivity
- To recover statutory payments
- To recover Construction Industry Scheme deductions suffered
- To indicate that you have made your final submission for the year
- To claim Employment Allowance
If required, an EPS must be submitted to HMRC by the 19th of the following tax month to apply any reduction on what you’ll owe from your FPS.
Let us take care of everything for you…
Here at Easy PAYE, our skilled and experienced team are always on hand to help with any necessary legislation, including employer payment submissions.
For further information about our Employer Payment Submission services, or to discuss your requirements further, please get in touch – our skilled and experienced team are always happy to help!