What is a week 53, 54 or 56?
Employers will only have a week 53 (54 or 56 for 2 weekly or 4
weekly payrolls) when you have calculated and finalised the final
week of the tax year and the next payment that you are due to make
is on or
before 5th April 2008.
It is the date that payment is due to be physically made to the
Employees that is important, NOT the date or the period that
any payment may relate to.
IRIS PAYE-Master will automatically know
if you have a week 53, 54 or 56 in the payroll and will guide you
through this process.
Normal Year:
If your payroll date falls on 5th of
April you will require a week 53/54/56. If your payroll date falls
on or after 6th April this will be in the new tax year.
Leap Year:
If your payroll date falls on 4th or 5th
of April you will require a week 53/54/56. If your payroll date
falls on or after 6th April this will be in the new tax year.
2007/08 tax year is a leap year.
The tax on this additional payment will
be calculated on a week 1/Month 1 basis in line with HMRC
guidelines even if the employee is set up on standard basis (the
system processes this automaticaly).
Monthly payrolls can only have 12 months, so none of the above
applies to a monthly payroll.
Are you still experiencing difficulties? Please contact
Support for further assistance.
