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week 53 payments
FAQ – Why could there be 53 payments in a tax year and how do we handle the payments?
It is essential that the relevant tax Week or Month is applied to payments in the payroll system. For determining in which tax period a payday falls, an employee’s payday is the earlier of: the date on which the payment is actually made, and the date on which the employee is contractually entitled to be [...]
Week 53 and Provisional Tax, 50p Tax v ‘Mansion Tax’, UK National Minimum Wage, Jersey Minimum Wage, Office of Tax Simplification Reports, The Welfare Reform Act and RTI – The Earlier Year Update (EYU)
The Learn Centre has received more than a few queries over the last few weeks regarding the tax position caused by Week 53, 54 and 56 payments. The Leap Year, no doubt, has caused an increase in such situations this year. The first article in our Newsletter this week concerns this issue and how Week [...]
