FPS

Earlier year updates must reach taxman by 19 May

HMRC have published advice on the correct procedures to follow when a pensioner is moved from one PAYE scheme reference to another.

The first full payment submission (FPS) from the new reference must be submitted after the final FPS from the old reference has been sent.

Failure to follow the procedure may result in the Revenue setting up the new pension source as a secondary employment and issuing incorrect codes.