2021 Bank Holiday Payroll Deadlines

FAQ:

Q: What Happens if my company's scheduled payroll is supposed to occur on a Holiday?

A: If your regular payroll is scheduled to take place on a bank holiday, the paydate will be moved to one business day earlier.

Example #1 If your employees are supposed to be paid on Friday, January 1st, 2021, they will receive their payment on Thursday, December 31st instead.

Example #2 If employees are supposed to receive payment on Monday, December 28th, 2020 they will receive their payment on Thursday, December 24th instead since Friday, December 25th is also a bank holiday.

Q: How do I know if my company has 2, 3 or 4-day payroll funding?

A: If Your company’s payday is on Friday and your payroll deadline is on a Monday, then your Company has 4-day funding. If Your company’s payday is on Friday and your payroll deadline is on a Tuesday, then your Company has 3-day funding. If Your company’s payday is on Friday and your payroll deadline is on a Wednesday, then your Company has 2-day funding.

November 11th, 2021 - Rememberance Day (Bank Holiday)

Pay Day

Deadline to Confirm Payroll 

(Companies with 4-day funding)

Deadline to confirm Payroll 

(Companies with 3-day funding)

Deadline to Confirm Payroll

(Companies with 2-day funding)

November 12th

November 5th

November 8th

November 9th

November 15th

November 8th

November 9th

November 10th

November 16th

November 9th

November 10th

November 12th

November 17th

November 10th

November 12th

November 15th

December 25 & 26, 2021 - Christmas Day & Boxing Day (Bank Holidays)

In 2021, Christmas & Boxing Day fall on the weekend. The bank Holidays fall on the follwing Monday and Tuesday (December 27th & 28th). Knit will be able to process employee payments on December 27th & 28th but any payroll confirmed on these dates will not be submitted to the bank until December 29th.

Pay Day

Deadline to Confirm Payroll 

(Companies with 4-day funding)

Deadline to confirm Payroll 

(Companies with 3-day funding)

Deadline to Confirm Payroll

(Companies with 2-day funding)

December 27th

December 21st

December 22nd

December 23rd

December 28th

December 22nd

December 23rd

December 24th

December 29th

December 21st

December 22nd

December 23rd

December 30th

December 22nd

December 23rd

December 24th

December 31st

December 23rd

December 24th

December 29th

January 1st 2022, New Years Day

New Years Day 2022 falls on a Saturday so the bank holiday falls on the following Monday (January 3rd). Knit will be able to pay employees on January 3rd but payroll confirmations submitted on this day will not be submitted to the bank until January 4th.

Pay Day

Deadline to Confirm Payroll 

(Companies with 4-day funding)

Deadline to confirm Payroll 

(Companies with 3-day funding)

Deadline to Confirm Payroll

(Companies with 2-day funding)

January 3rd

December 24th

December 29th

December 30th

January 4th

December 24th

December 29th

December 30th

January 5th

December 29th

December 30th

December 31st

January 6th

December 30th

December 31st

January 4th

January 7th

December 31st

January 4th

January 5th


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