Plan your payments early over the festive period
11 December 2015
Bacs is reminding businesses that where staff and suppliers need to be paid over the Christmas and New Year period, make sure payments are planned in advance to take into account the additional non-processing days resulting from the festive bank holidays.
Christmas Day, Boxing Day and New Year’s Day are all bank holidays and, therefore, non-processing days. This year (2015) Boxing Day falls on a Saturday, so Monday 28th December is also a Bank Holiday and non-processing day.
Payments due to be in employee or supplier accounts on Christmas Eve can be submitted as normal – i.e. Tuesday 22 December. But those due to be made later will need to have the extra non-processing days taken into consideration – for example, if salaries are scheduled to be paid on Wednesday December 30, then the payment file will need to be submitted by Thursday 24 December at the latest.
The 2015 processing calendar can be found here and the 2016 calendar is also now available for download.