10 Oct 2019

Time is running out for Earlier Year Update Submissions

Act now, EYU will no longer be a valid submission type from April 2020

In a bid to improve payroll reporting, HMRC have been running a trial aimed at simplifying the process for reporting corrections to previous years payroll data, by extending the use of the Real Time Information (RTI) Full Payment Submission (FPS). This move has been done to align HMRC systems with employer payroll software.

At present Full Payment Submissions (FPS) is sent with current or ‘in-year’ changes, and Earlier Year Updates (EYU) is sent for changes to previous years.  The EYU  will cease to be accepted, but the FPS will allow for ‘in-year’ and previous year updates from April 2020

Some payroll software providers are supporting this trial period, but you should check with your provider to see whether your product is one of them. If your product supports the change, a Full Payment Submissions (FPS) can be used to correct payroll errors for the 2018 to 2019 tax year, which are identified after 19 April 2019. This change will affect all Oracle E-Business Suite , Oracle Cloud and any UK payroll user.

Oracle’s E-Business Suite (EBS) is not supporting this trial period. You should continue to make corrections using the Earlier Year Update (EYU) process for now, but you must make the switch to Full Payment Submissions (FPS) from April 2020. You also need to make sure you use the same submission type for all corrections you submit. For example, if you make a change to 2018 – 2019 payroll data using an EYU on or after 20 April 2019, you will then need to use an EYU for any other changes. If you are able to use the FPS submission, all corrections on or after 20 April 2019 need to be made on an FPS.

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Earlier Year Update (EYU) process change overview

  • Amendments to the Tax Year ending 5 April 2020 (and future years) from 20 April 2020 – will be made by the submission of a Full Payment Submission (FPS).
  • Amendments to Tax Years ending 5 April 2019 and earlier – will be made by the submission of an Earlier Year Update (EYU).
  • Employer Payment Summary (EPS) not impacted by this change.

For More Information on this topic:

Visit the HMRC

 

Choosing the right Managed Services Provider

If you’d like to find out more about E-Business Suite updates and future legislative changes like this, please do not hesitate to contact Claremont. We are the UK’s leading independent provider of Oracle E-Business Suite and Oracle Cloud Applications.

So if you are looking for an Oracle partner who can help you with your technology investment, goes about it the right way and can back up the talk, then contact us.

You can email us at info@claremont.co.uk or phone us on +44 (0) 1483 549314.

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