Payroll Giving: Consultation of Draft Regulations on Donation Hand Over Time
HMRC is consulting on draft regulations to reduce Payroll Giving donation hand over time. In most cases, these new regulations would require Payroll Giving Agents to hand over donations to charities within a maximum of 35 instead of 60 days, subject to certain conditions being met.
Draft regulations to do so have been published. This measure will have effect for money received by agents on and after 6 April 2014. The existing 60 day time limit will apply to money held in circumstances which do not meet the new conditions.