From: Pay.UK Enquiries <Enquiries@wearepay.uk>
Sent: 12 September 2022 16:43
Subject: RE: External : Bank Holiday 19th September 2022
We are deeply saddened by the death of Her Majesty the Queen and we send our sincerest condolences to all those who are mourning this upsetting news.
A bank holiday for the state funeral of Her Majesty the Queen has been announced for Monday 19 September 2022.
Our systems will follow bank holiday protocol, and operate a non-processing day on Monday 19 September 2022.
Please refer to our Q&As for more information, published on our website.
A: 2 Thomas More Square, London E1W 1YN
Is the Faster Payment System closed on the 19th September 2022 bank holiday?
Faster Payments will continue to operate 24/7/365, consistent with normal bank holiday operating protocol. Standing Order payments, will not operate, consistent with normal bank holiday operating protocol.
What does this mean for payroll?
Although one of the rarer payment dates, there will be a proportion of payrolls that would have been paid via BACS on Monday 19th September 2022. equally payments for 20th, 21st and 22nd will have an additional processing day within their BACS cycle.
Employers may need to review and consider changing the payment date to the earlier Friday 16th September 2020. Payments sent with a credit date of 19th September will credit into accounts on Tuesday 20th September 2022.
Equally, as an additional processing day is now required in the BACS cycle, Payroll may need to process earlier.
What about the payment of PAYE and Pension Contribution?
The traditional payment date for many will be associated with 19th of each month. However, electronic payments, to which this relates, have a concessionary back limit date of 22nd September. In which case any disbursement which would normally have been made on 19th, unless changed will credit on the 20th which is still before the 22nd deadline.