19th December 2016
Make sure your payrolls not a turkey this Christmas by double checking your BACs payment dates and avoiding non processing days.
You’ve done all of the hard work getting payroll done but Christmas Eve of course falls on a non BACs processing day. This year Tuesday 27 December is also a Bank Holiday, so the first post-Christmas working day when BACs payments will be processed will be Wednesday 28 December.
So, if your key people are to be paid by Bacs Direct Credit on Wednesday 28 December, then BACs advises that the payment process must begin no later than Thursday 22 December. For payments due on Thursday 29 December then payment files must be submitted no later than Friday 23 December.
Over New Year its a similar situation with New Year’s Day falling on a Sunday which means that Bank Holiday Monday will be a non-processing day. This means that for payments due on Tuesday 3 January the processing cycle must be started on Thursday 29 December at the latest.
Check the full run down on the BACs website and make sure your payrolls not a turkey this Christmas
