The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal
Making regular payments by Direct Debit has become second nature for millions of consumers, with almost nine-out- of-ten adults in the UK having at least one Direct Debit and around 73 per cent of household bills paid this way. And nearly 90 per cent of the country’s workforce is paid using Bacs Direct Credit and almost one billion welfare payments are made this way every year.
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Changes to internet security in the payments industry 9 May 2016
A reminder for UK businesses to act now to accommodate changes to internet security in June or they could find themselves locked out of secure payment websites.
The global internet community is set to introduce a new and more sophisticated level of internet security and Bacs is again warning businesses to act now to avoid losing access to vital payment services when internet security changes from 13 June 2016.
The changes could have serious implications for UK businesses that use Bacs Payment Schemes Limited (Bacs) to make salary and supplier payments or to collect by payments by Direct Debit.
Bacs highlight ten things all business should know about the new security and its impact:
1. Currently, most secure internet sites are protected by Secure Hash Algorithm-1 SSL, or SHA –1 SSL 2. Bacs is also making the internet more secure 3. Businesses that use Bacs to make or collect payments will be affected 4. Any business that wants to access Bacs via Bacstel-IP will need to make sure they have the right IT in place to support these changes 5. Failure to update a company's systems will mean it is unable to access secure services 6. Bacs is implementing these changes on 13 June 2016 7. Bacs is adopting the new measures before the internet community 8. Ask your IT department for assistance 9. Companies who use a bureau may be affected 10. Banks will support look after companies with smartcards and signing solutions.
See the Bacs website for full details of the 10 things businesses need to know about the changes.
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PAYE late filing penalties - continuation of 3-day easement and risk-based approach to charging penalties 20 May 2016
Following a review of the three day easement and risk-assessed approach adopted last tax year which has seen a significant reduction in returns filed late, it has been decided to continue this approach for a further tax year. As a result employers will not incur penalties for delays of up to three days in filing PAYE information during the 2016-17 tax year.
Late filing penalties will continue to be reviewed on a risk-assessed basis rather than be issued automatically.
The three day easement is not an extension to the statutory filing date which remains unchanged. Employers are required to file on or before each payment date unless the circumstances set out in the ‘ sending an FPS after payday guidance ’ are met. HMRC won't charge a late filing penalty for delays of up to three days after the statutory filing date, however employers who persistently file after the statutory filing date but within three days, will be monitored and may be contacted or considered for a penalty.
HMRC will continue to review their approach to PAYE late filing penalties beyond 5 April 2017 in line with the wider review of penalties and will continue to focus on penalising those who deliberately and persistently fail to meet
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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