Reconcile individual: in-year reconciliation: introduction
The In-Year Reconciliation function allows you to enter information for the current year to settle or calculate an individual’s liability part way through the current year. This may be because they have ceased employment, are seeking employment, going abroad or have died. They may have received a pension lump sum (formerly known as trivial commutation payments) lump sum death benefit, or used pension flexibility to receive a payment on which they have suffered excessive tax and want to make a claim before the end of the tax year.
The In-Year Reconciliation function allows you to enter
- In-year repayment claim data
- Claimant and nominee details
An in-year tax calculation and calculation statement are produced automatically for the individual or personal representative and agent where appropriate.
A new form P45 (Parts 1A, 2 and 3) will be issued automatically in the case of an unemployment repayment claim.
A payable order will be created in repayment cases addressed to the individual or nominee.
From April 2015 in-year repayments can be made when there is an open employment.