Article by Sarah Bradford. This article appeared in the May 2005 issue of Tax Adviser. The 2004-05 tax year came to an end on 5 April 2005. The end of one tax year and the start of a new one heralds a busy time for those working in payroll. Any outstanding tax and PAYE must be paid, various returns must be compiled and sent to the Inland Revenue and everything must be put in place for the new tax year. If the additional workload and tight deadline are not enough, there is the further pressure of penalties, which may be charged if errors are made or returns are late. This article takes a look at what needs to be done to put the 2004-05 tax year to bed.
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