`The Chartered Institute of Payroll Professionals
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Bacs deadlines Any business with mid-month payment deadlines may also need to be aware of Bacs deadlines for paying employees. If accommodations cannot be made in the short timeframe available, it would be advisable to send communications out to those affected.
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19 September 2022 will be a non-processing day for Bacs Published: 13 September 2022 Emailed: 14 September 2022
Due to the death and state funeral of Queen Elizabeth II, Bacs will follow usual bank holiday protocol on 19 September 2022.
With the Bacs payment system closed for the bank holiday, the below table has been issued, detailing the last processing dates and submission dates.
PAYMENT ARRIVAL DATE
LATEST PROCESSING DATE
SUBMISSION DATE
Thursday 15 September
Wednesday 14 September
Tuesday 13 September
Friday 16 September
Thursday 15 September
Wednesday 14 September
Tuesday 20 September
Friday 16 September
Thursday 15 September
Wednesday 21 September
Tuesday 20 September
Friday 16 September
Thursday 22 September
Wednesday 21 September
Tuesday 20 September
Faster payments will continue to operate, as they normally would on a bank holiday.
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High Pay Centre: CEO pay survey Published: 16 September 2022 Emailed: 21 September 2022
The High Pay Centre, along with the Trades Union Congress (TUC), conducts research in CEO pay each year. The report produces looks at CEO pay, predominantly in FTSE 100 companies, and compares to previous years.
The UK CEO pay report 2021 finds that median pay for FTSE 100 CEOs has risen by 39% from 2020.
Here are some other key findings from within the report:
• the median FTSE 100 CEO pay of £3.41 million is 109 times the median earnings of a UK full-time worker in 2021 • the highest paid FTSE 100 CEO received a total of £16.85 million • 90% of FTSE 100 companies paid their CEO a bonus in 2021, compared to just 64% in 2020 and 89% in 2019 • there were 9 female FTSE 100 CEOs in 2021, up from 7 in 2020 • the median FTSE 250 CEO was paid £1.72 million in 2021, a 38% increase on the 2020 figure of £1.25 million • the median FTSE 250 CEO is paid 55 times the median UK worker. This is a significant increase from 40:1 in 2020.
It is clear from the results that CEO pay is returning to pre-pandemic levels. The High Pay Centre suggested that boosting the incomes of lower paid employees should be prioritised over CEO pay and bonuses.
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