At Prestige Business Management, we understand that getting payroll right at Christmas is a pretty crucial process to help make your staff just that little bit happier during the Yuletide festivities. Nonetheless, lots of employers are gearing up to pay their staff early – to help make Christmas that little bit easier. However, from a payroll perspective, this can make the experience that much more stressful.
What’s The Big Issue with Christmas Payroll?
According to the ATT:
“The ATT is highlighting to employers that HMRC has issued details of a special arrangement for reporting the Christmas payroll.1 This easement aims to help universal credit claimants where their employer pays them earlier than usual due to the Christmas period – without it, some claimants may find their awards reduced or stopped altogether.
The usual rule for employers is that they should report their payroll information through RTI (Real Time Information) to HMRC ‘on or before’ the date of any payment. However, HMRC guidance contains a relaxation of this rule when an employer pays earlier or later because the usual pay-day falls on a weekend or bank holiday.
Jon Stride, Co-Chair of the ATT’s Technical Steering Group, said:
“We welcome that HMRC has issued the guidance well ahead of Christmas this year. Last year the guidance was not issued to employers by HMRC until 17 December 2018, which was too late for many employers.
“The date of payment that employers report to HMRC can have a significant impact on the amount of universal credit received each month by their employees. Employers need to be aware of the recent guidance and consider if it will impact on their Christmas payroll.”
How Can Prestige Business Management help with Christmas Payroll?
Why not outsource your payroll commitments? Prestige Business Management can provide bespoke payroll services for your business. However, we can help by unburdening your business of this complexity, with its labyrinth of employment law and government taxation rules, freeing you up to run your business. We can provide a comprehensive payroll service that is unique to your own organisational needs.
We offer a range of payroll payment services. The payroll service will be uniquely tailored to your own company’s specific needs – we can do single payment or BACS transfers and provide reporting tools to help you monitor your employee costs. We provide a bespoke worksheet and you input the hours of your staff. You pay our payroll bank account and we make the payment to all staff on the nominated day – using single or BACS transfers. We can help make payroll hassle-free this Christmas for your business – all you need to do is call us on 0203 773 2927 today!