Once you complete your payroll processing in the 2024 tax year, you need to create the 2025 tax year for each of your payrolls.
Before you set up the new tax year, check you're using the latest version of Sage Payroll.
This is stage three to complete year end. Go to the Payroll Year End 2024 hub to see them all.
Payroll Frequency | First Pay Date Range |
Weekly | January 1 - January 7 |
Fortnightly | January 1 - January 14 |
Monthly | January 1 - January 31 |
Bi-monthly | January 1 - January 16 |
4-Weekly | January 1 - January 28 |
Quarterly | January 1 - March 31 |
If you're part of the Construction Workers' Pension Scheme (CWPS), when the CWPS year ends, you must clear down the CWPS history and balance from your employee records. You must also set up the CWPS calendar for the new CWPS tax year.
NOTE: The 2025 CWPS year starts on 30 December 2024.
Use our article to complete your Construction Workers' Pension Scheme (CWPS) year end tasks.
The tax year runs from 1 January to 31 December, however your company's financial year may not coincide with these dates, for example, 1 August to 31 July.
NOTE: If your Financial Year end matches the Tax Year (in the payroll calendar), you're automatically prompted to Clear down financial balances when setting your first period of 2025.
This involves clearing any financial balances that you don't want in your new financial year and allowing your reports (Cost Analysis, Payments, Deductions) to show the financial year information.
NOTE: You don't see this panel if your financial year doesn't match the tax year. You can check your payroll calendar for when your financial year starts.
If the Central Statistics Office (CSO) has selected your company for surveying and you haven't done so already, you must set up Central Statistics Office (CSO) reporting.
Additional Superannuation Contribution (ASC) calculations replaced Pension Related Deduction (PRD) in 2019. ASC is only relevant to public sector employees.
If you have employees that are liable for ASC deductions in 2024, you must assign the appropriate ASC settings within their records.
Find out how to assign Additional Superannuation Contribution (ASC) settings to employees.
Once you complete the sections above in each of your payrolls, you're ready to process your payroll, as normal in the new tax year.