The full report is available to read - Unfair redundancies for women during pregnancy, maternity leave and their return to work .
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‘Yule need to plan in advance’ 20 November 2017
UK businesses are being urged by Bacs to plan in advance to avoid missing or delaying crucial payments over the Christmas and New Year holidays.
Bacs Payment Schemes Limited (Bacs), the company behind Direct Debit and Bacs Direct Credit in the UK, is reminding businesses to make plans to ensure staff and suppliers don’t miss out because of the non-processing days over the festive period.
For example, if staff are to be paid before Christmas 2017, then the payment process has to begin on Wednesday 20th December 2017 to ensure that salaries are in employees bank accounts by Friday 22nd December.
Similarly, if business owners are intending to pay staff or suppliers before the New Year, then the payment process must begin on Wednesday 27th December 2017 at the latest.
To help businesses with their planning, Bacs publishes downloadable processing calendars, including all critical payment dates; the new one for 2018 has joined the existing 2017 version at www.bacs.co.uk .
Certain dates in the calendar like Bank Holidays are classed as non-processing dates, and if important payments are not to be missed, then businesses need to take these non-processing dates into account when they are working-out their payment schedules. Payment files, which trigger the payment of Direct Debits or Bacs Direct Credits, can be submitted up to 30 days in advance and business owners should ensure that anyone involved in processing payments has a copy of the processing calendars ( available here ).
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HMRC begins using savings interest data to update tax codes 1 December 2017
HMRC has begun using 2016-17 savings interest data received from third party bank and building society savings interest (BBSI) to update tax codes.
The BBSI data will be used to populate interest for the 2016-17 tax year and estimate interest in the 2017-18 tax year.
Most people will no longer pay tax on savings interest due to the changes to the Personal Savings Allowance which came into effect in April 2016; basic rate taxpayers can earn up to £1,000 in savings income tax-free and higher rate taxpayers can earn up to £500.
HMRC has already contacted customers affected by these changes to explain how the new system will work.
Rigorous testing has taken place and HMRC has now confirmed that the system is going live with the first calculations and tax codes anticipated to be received by customers by 1 December 2017, with numbers increasing from the following week.
It is important to note that this is applicable to single/sole bank or building society accounts only. Customers who are in Self Assessment are not affected and should report their interest in the normal way.
HMRC has said that staff have been trained to support customers should they call for assistance. The Personal Tax Account (PTA) has also been updated to support customers with the change and GOV.UK will also be updated.
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The Chartered Institute of Payroll Professionals
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