Year-end 2024-25
What is year-end?
Year-end is the formal closure of accounts for all MPs and for IPSA. It enables IPSA to fulfil its statutory duty to account to Parliament and provide assurance to the public on how taxpayers' money has been spent.
The year-end process is essential so we can correctly allocate your spending to a financial year.
As part of this, we provide you with accurate data about your spending in this financial year and how much you have left in your budgets.
The information we provide you with is a key step in preparing the data we use in our annual publication of business costs every year.
The current financial year runs from 1 April 2024 to 31 March 2025.
It is important that we get it right for you. There will be regular bulletins in the run up to and throughout the year-end to help you through the process.
What do you need to do for year-end?
You need to tell us which financial year your costs relate to by downloading and submitting a Year-end form.
To determine if you need to submit a form, you need to think about four key questions:
Was the cost incurred on or before 31 March 2025?
Did you submit a payment card reconciliation before 25 April 2025?
Did you submit a reimbursement claim before 9 May 2025?
Were the goods or services used entirely in 2024-25, do they relate entirely to 2025-26, or are they split across the two years?
Flowcharts below will help you apply these tests to different scenarios.
What year-end deadlines do you need to meet?
There are strict deadlines to meet as part of the process. You can start preparing for year-end now.
| DEADLINE | ACTION | DETAIL |
| 25 April 2025 – 23:59 | Submit Year-end form | Submit a Year-end form to IPSA with the information we need to allocate your costs to the correct financial year. |
| 25 April 2025 – 23:59 | Submit Direct Payment Correction forms | Submit this form to make changes (e.g. to change the expense type or budget) to claims already reimbursed on or before 31 March 2025. |
| 25 April 2025 – 23:59 | Reconcile payment card lines | You must reconcile all payment card lines for costs on or before 31 March 25 so we can close your accounts. |
| 25 April 2025 – 23:59 | Complete tasks in Task Manager | Complete all outstanding actions so we can close your accounts. |
| 9 May 2025 – 23:59 | Submit reimbursement claims | Submit reimbursement claims for 2024-25 that you have included on your Year-end forms. |
| 31 October 2025 – 23:59 | Pay monies owed | If you have a budget overspend for 2024-25, this will need to be repaid in full to IPSA by 31 October 2025. |
When should you use the Year-end form?
The flowcharts below detail when forms should be used for both payment card transactions and reimbursement claims.
This workflow should be used to decide which payment card transactions to include on a Year-end form:
This workflow should be used to decide which reimbursement claims to include on a Year-end form:
Direct suppliers
IPSA pays several suppliers directly for goods and services you may receive or use.
This table shows you how we will allocate costs for direct suppliers:
| DIRECT PAYMENT TYPE | SUPPLIER | WHO NEEDS TO TAKE ACTION | COSTS ALLOCATION |
| Payment card | Barclaycard | MP office must confirm how to allocate costs. | See Payment Card flowchart above – please ensure you read the additional guidance on payment card lines. Do not assume that the transaction will be allocated to the year that you expect. |
| Rental payments to landlords or agents | Your landlord or agent | IPSA will allocate rent that we pay directly. MP office must confirm how to allocate rent that is claimed via reimbursement. | If we pay your rent to your landlord/agent on your behalf, IPSA will assign the final rental payment we make in 2024-25 to the appropriate financial years on your behalf. This will be done based on the period that final rental payment covers and the number of days of this period that are in 2024-25 and 2025-26. Please note that if you claim for your rent via reimbursement or using the payment card, you will need to submit a Year-end form to request any changes to the years in which the rent is allocated. |
| Stationery | XMA, Commercial, Banner | IPSA will allocate costs. MP Office does not need to take action. | IPSA will allocate the cost to the financial year during which the items have been delivered. Delivery is assumed to be next day. |
| Travel | R&M | IPSA will allocate costs. MP Office does not need to take action. | IPSA will allocate the cost to the year in which the journey is taken (based on travel/departure date). |
Payroll
There is no need for a payroll Year-end form to be submitted. Payroll will review all payments out of the staffing budget in the April 2025 payroll and automatically move them back into 2024-25 where relevant.
Please submit and approve all payroll forms on IPSA Online by 15 April 2025.
From 17 March 2025 to 15 April 2025, the Reward & Recognition form will have an additional drop-down box for you to select which year you want the cost to come from. After this period, the additional drop-down box will be removed and any costs submitted will automatically come from your 2025-26 staffing budget.