There are two key submissions employers must make under RTI – the EPS (Employer Payment Summary) and the Full Payment Submission (FPS). The EPS is used when employers want to:
- Claim a reduction in the amount to be paid to HMRC.
- Declare that no payments have been made to employees in a tax month.
HMRC previously advised that “where possible, it is advisable to submit the EPS on or after 6th of the month but before 19th, to ensure the credit is allocated against the month expected”.
HMRC however have recently released new guidance confirming that the actual EPS “window” is the 20th to the 19th of the following tax month i.e. for an EPS to apply to Month 5’s FPS totals, the EPS needs to be submitted in the window from 20 August to 19 September. The following grid, produced by HMRC, will help you determine when EPS submissions need to be made.
|Period EPS Sent:||Recoveries adjustment will be allocated against the payment due on:||Tax Month|
|Up to 19 May||19/ 22 May||01|
|20 May to 19 Jun||19/ 22 June||02|
|20 Jun to 19 Jul||19/ 22 July||03|
|20 Jul to 19 Aug||19/ 22 August||04|
|20 Aug to 19 Sept||19/ 22 September||05|
|20 Sept to 19 Oct||19/ 22 October||06|
|20 Oct to 19 Nov||19/ 22 November||07|
|20 Nov to 19 Dec||19/ 22 December||08|
|20 Dec to 19 Jan||19/ 22 January||09|
|20 Jan to 19 Feb||19/ 22 February||10|
|20 Feb to 19 Mar||19/ 22 March||11|
|20 Mar to 19 Apr||19/ 22 April||12|
If the EPS is submitted in accordance with these “window dates” the Accounts Office payment that HMRC expects and the payment that the employer actually makes should be the same value.
If you have any RTI queries or would like more informaiton on this area, please contact Neil Cameron by email to email@example.com or call 0131 558 5800.