BACS publish processing dates for the festive period 2019
19 November 2019
BACS has circulated an extremely useful table which shows the dates for processing BACS over Christmas and New Year 2019.
While the additional bank holidays are extremely welcome, payroll departments need to be mindful of when they are submitting payrolls to ensure staff are paid on time this December and in January 2020. The below table was issued to assist with the task of timely payments and is a great help.
As previously reported, it is also essential that, when submitting the Full Payment Submission (FPS) over the Christmas period, payrollers include the contractual pay date and not the date that they are actually paying their staff, as many businesses opt to pay their staff early at this time of year. The importance of this lies in the fact that, inputting the earlier pay date could have repercussions for staff who receive Universal Credit payments, as it may skew the earnings reflected in the relevant assessment period. This may result in employees receiving lower benefit payments or even no payment at all in relation to Universal Credit.
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information. Download the CIPP's Payroll: Need to know - your guide to payroll legislation and reporting for the most up to date data.