The term “payroll year-end” refers to the process of finalizing all payroll activities for a given tax year. This is a term that normally refers to the last payroll run of the year before other activities occur where employers must prepare and file various forms and records with the appropriate tax authorities.

In the US, this includes end of year form filling of W-2s, or in the UK the process of distributing P60's to workers that typically provide a breakdown of the pay and deductions for the year that has just ended. The specifics of the payroll year-end process can vary depending on the country and its specific tax laws. In many countries, year-end typically occurs in December through to January with some notable exceptions.

The United Kingdom for example has a tax year that runs from 6th April to the following 5th April, a practice dating back to the switch over to the Gregorian calendar. Canada, Japan, Hong Kong, Singapore and South Africa have a similar tax year running from April to March.

Australia and New Zealand opt for a tax year that runs from July to June. As tax years differ from country to country, it is important that you are aware of your obligations to ensure correct tax filings. Mauve will file any statutory remittances related to your payroll where we are legally required to do so, but these obligations should not be confused with tax returns.

In many countries, a separate tax return is required where you are required to detail such items as income from a rental property, sale of certain items, investment returns, charitable donations and more. In most countries this is considered separate to the statutory filings required by the payroll department and may not be covered under the Mauve EoR remit.

If you have any questions about tax returns then reach out to your Mauve contact for more information to find out who is responsible for any required statutory filings.