Pay Check - August 2020 Newsletter
| | August Newsletter
*Important Information* |
| | | BACS Deadlines
A reminder that the final deadline for approving your BACS payments is midday on the day of BACS - going forward we will not be extending this deadline any longer. The deadline is set at this time to ensure that if BACS goes down, or there is any issue with the BACS software, we have sufficient time to resolve, if necessary go to a back up, and complete payments.
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| | Job Retention Scheme Changes
A reminder that this month you can only reclaim your furlough amounts in the scheme, you can no longer claim for ER NIC or ER Pension.
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| | | HMRC Agreements
If you have made a "Time to Pay" agreement with HMRC and have also claimed on the Job Retention Scheme you will have to make sure the PAYENIC for the claim has been paid over before HMRC will agree a timeline for repayment.
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| Early Payroll for August
If you are going on holiday in August, you might need an early payroll run. If this is the case, please inform us 5 working days before you require your payroll completed!
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| | Payroll Approval
This month you might be away during the approval time for your payroll. Please, let us know the details of who will sign off in your absence.
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| | | | and finally, here's a new blog for you... |
| | Termination Payments – Class 1A National Insurance Contributions |
| As businesses prepare to start ‘weaning’ themselves off the government’s furlough scheme it is expected that a wave of redundancies will be announced in the coming weeks. With redundancies, consideration is needed to any payments to be made and the correct treatment for tax and National Insurance Contributions (NIC) applied. On redundancy an employer must pay statutory redundancy pay to employees who have worked for their employer for two years or more.... |
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