RTI Submission Services

What is the difference between an FPS and an EPS?

A Full Payment Submission (FPS) and an Employer Payment Summary (EPS) are both reports that UK employers need to submit to HM Revenue and Customs (HMRC) as part of their payroll reporting obligations, but they serve different purposes.

An FPS is a report that employers need to submit to HMRC every time they pay their employees. An FPS is only required when employees are paid. The FPS provides information on the employees' pay, taxes, and National Insurance contributions, and is used to calculate and report the amount of tax and National insurance owed by the employer.

On the other hand, an EPS is a report that employers need to submit to HMRC every tax month, this submission reports different information to the FPS. The EPS is used to report of any reductions in the employers’ payments such as statutory payments made to employees, apprenticeship levy (if applicable) and Employment Allowance.

Why work with Finesse Resources for your EPS and FPS reporting?

• Reliable Reporting | Our team is well-versed in the latest HMRC guidelines and can accurately calculate and report your payroll deductions and adjustments. We ensure that all the necessary details are included in the EPS and FPS and that the reports are submitted to HMRC on time, every time.

• Reduced Risks | Our team understands that even small errors in your payroll reports can lead to significant fines and penalties. That's why we take great care to ensure that all calculations and reporting are done with utmost accuracy, reducing the risks of errors or omissions.

• Expert Guidance | As an employer, you may be eligible for various reductions in your payments, such as the Employment Allowance or Small Employers Relief. Our team can help you identify and claim these reductions, maximising your savings and ensuring that you are not overpaying your taxes.

• Personalised Support | At Finesse Resources, we offer personalised payroll packages that are tailored to your business’s specific needs, from ad hoc support to full-service payroll management.