P60 amendment : Correction of bonus payment

[wonga78]

I was lucky to have a bonus awarded on 31 March 2013 of X amount. I have a letter stating this and the fact it will be paid on 31 March 2013.

Unfortunately payroll messed this up and paid 50% on 31 March and 50% 2 weeks letter.

When i asked at the time payroll said speak to HMRC when year end comes which i didnt realise was a fob off at the time. i may have the email in my system somewhere. HMRC are now saying it is up to my company to adjust this error.

Is it reasonable to ask that payroll move this late payment to the correct P60 tax year?

This affects my self assessment. Currently work is saying my p60 will not be restated probably as they cant be bothered and our HR is now outsourced overseas!

[nemesis45]

Re: P60 amendment : Correction of bonus payment

I was lucky to have a bonus awarded on 31 March 2013 of X amount. I have a letter stating this and the fact it will be paid on 31 March 2013.

Unfortunately payroll messed this up and paid 50% on 31 March and 50% 2 weeks letter.

When i asked at the time payroll said speak to HMRC when year end comes which i didnt realise was a fob off at the time. i may have the email in my system somewhere. HMRC are now saying it is up to my company to adjust this error.

Is it reasonable to ask that payroll move this late payment to the correct P60 tax year?

This affects my self assessment. Currently work is saying my p60 will not be restated probably as they cant be bothered and our HR is now outsourced overseas!

Hi, As far as I know a P60 can't be undone once issued, certainly cannot be replaced.

I'm sure someone will have more advice for you. [MENTION=6]Amethyst[/MENTION] [MENTION=49370]Kati[/MENTION]
nem

[matt3942]

Re: P60 amendment : Correction of bonus payment

I'm inclined to agree with [MENTION=55034]nemesis45[/MENTION] - I don't think your P60 can be amended; however, I would say your P60 is correct: even though you weren't paid all of your bonus in the previous financial year, you did earn it (i.e. it was awarded) in the previous financial year, and that's what's relevant.

I'm someone will correct me if I'm wrong.

- Matt

[des8]

Re: P60 amendment : Correction of bonus payment

A P60 is only a record of pay and tax, and they should be able to issue an amended P60 if necessary.
They may be saying they can't issue another as they are printed automatically by computer, but they could produce it manually.

http://www.learnpayroll.co.uk/infosh...processing.pdf
1.1.1. If an amendment is necessary to the original P60, the employer must give theemployee details of the amendment. This can either be done via a letter or by issuing a new P60 marked ‘REPLACEMENT"

[matt3942]

Re: P60 amendment : Correction of bonus payment

Thank you for clarifying, [MENTION=39710]des8[/MENTION]

I do think it would be incorrect to amend the P60 because the bonus was earned in the previous financial year.

As an example, in my business the end of my financial year is June. I issued invoices in June (previous financial year) but didn't receive payment until July (current financial year); however, the values had to be submitted against the previous financial year, as that's when the money was earned.

I hope that helps [MENTION=50104]wonga78[/MENTION]

- Matt

[wonga78]

Re: P60 amendment : Correction of bonus payment

Ye 2013 P60 includes 50% of 2013 bonus.
Ye 2014 P60 includes 50% of 2013 bonus.

The above is the current situation as it follows the cash hitting my bank account. From what I am reading I think I can ask my company to restate my 2013 ye P60 so that is shows 100% of 2013 bonus as it was earned in 2013?

What hmrc guidance can I quote? I have been using section 18 of itepa2003

[des8]

Re: P60 amendment : Correction of bonus payment

http://www.gov.uk/government/uploads...d_helpbook.pdf

QUOTE:"15 Making amendments for years prior to RTIExceptionally, you may need to send an amended P35return where you discover that an employee or pensionerreceived a payment that they were not entitled to and youwish to make a claim from HMRC for overpaid tax.For example:• you discover that your employee was overpaid for work/hours they did not complete• a pension payment was made to a pensioner for a periodafter they diedIf you need to make a claim for the overpaid tax youmust send this information on a P35 and P14. We will notaccept it in any other format.In all cases:• you must send a letter explaining the reason for theamendment• you should keep evidence how recovery of the net payor pension was made from the employee or pensionrecipient• there is a four year time limit after the end of the tax year• you must give your employee/pensioner/representativedetails of the amendment either in a letter showing theamendment or in a new P60 marked ‘REPLACEMENT’."

Not quite your situation.
You could write to HMRC asking them how your employer should deal with the matter.

[matt3942]

Re: P60 amendment : Correction of bonus payment

Hi [MENTION=50104]wonga78[/MENTION] - my apologies - I misunderstood your post: I thought 100% of your bonus was showing on your 2013 P60 but you received half in 2013 and half in 2014. If you bonus is split between two financial years I would say that is incorrect but I can't see any sense in going to the trouble of changing it after this length of time.

- Matt

[wonga78]

Re: P60 amendment : Correction of bonus payment

Thanks Matt - if the amount sits in the right tax year then I am not required to self assess in 2014.