FR 2052b; OMB Number 7100-0361 Approval Expires August 31, 2017 Page | 1 GENERAL INSTRUCTIONS Purpose The FR 2052b report collects data elements that will enable the Federal Reserve to assess the ability of firms to meet their liquidity needs. Who Must Report Bank Holding Companies (BHCs) with total consolidated assets of greater than $10 billion 1 should submit this report on an ongoing basis as part of the supervisory monitoring process. Basis of reporting Domestic firm submissions (including firms affiliated with foreign firms) should cover all material bank, broker- dealer and non-bank entities contributing to the firm's funding and liquidity operations. Each firm should submit a consolidated firm schedule, a parent company schedule, and a contingencies/pricing item schedule, if applicable. Depending on the operations and business activities of the firm, not all data fields or schedules are applicable. For example, if the firm is not involved in the REPO secured funding markets, Section 6 “Repurchase Transactions” in the consolidated schedule will not apply. Where to Submit Reports All FR 2052b respondents should submit their completed report via the Federal Reserve 1 Excluding Global Systematically Important Banks (G-SIBs) and affiliates of Foreign Banking Organization (FBOs) with less than $50 billion in total consolidated assets System's Reporting Central Application. http://www.frbservices.org/centralbank/reportin gcentral by 8 pm (Central Time) on the 15th of the month following the data as-of date. If the 15 th of the month falls on a Saturday, Sunday, or holiday, the report would be submitted on the previous business day. Frequency of Reporting U.S. BHC with total consolidated assets >$50 billion Institutions with total consolidated assets greater than $50 billion (including institutions affiliated with foreign firms) should report monthly. Under adverse market or firm conditions, supervisors may request submissions of liquidity data on a more frequent basis up to daily through examination process. Supervisors will also assess whether non-G-SIB, based on their complexity and risks, should use form FR 2052a or provide more frequent submissions. Changes to the above reporting requirements would be discussed with firms by their supervisors and adequate time would be provided to move from FR 2052b to 2052a, or to increase frequency of submissions. U.S. BHC with total consolidated assets $10 billion -$50 billion Institutions with total consolidated assets between $10 billion and $50 billion (excluding institutions affiliated with foreign firms) should report quarterly. Under adverse market or firm conditions supervisors may request submissions of their liquidity data on a more frequent basis up to daily if the situation warrants.
51
Embed
PAYE Modernisation IPASS External Design Workshop 13th ... · PAYE Modernisation IPASS External Design Workshop 13th February 2017 . Overview of the morning Time ... Pay and Deduction
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
PAYE Modernisation IPASS External Design Workshop
13th February 2017
Overview of the morning
Time
9.45 – 10.00 Registration/coffee
10.00 – 10.30 Introduction/overview of project
10.30 – 11.45 Breakout session
11.45 – 12.00 Tea/coffee
12.00 – 12.30 Breakout session
12.30 – 1.00 Q&A/feedback
PAYE Modernisation: context
Why modernise PAYE?
Changing nature of:
• Employments
• Payroll
• Information and communications technology
• Expectations
SMART PAYE
Seamless integration into payroll
Minimize employer cost to comply
Abolition of P30s, P45s, P46s, P60,
End of Year Returns
Right tax paid on current due dates
Time savings
SMART PAYE
Simplified online services
Maximise use of entitlements
Automatic end of year review
Real time accurate data
Transparency
SMART PAYE
Statutory in-year employer return
Making compliance easier
Accurate up to date income details
Reduced customer contacts
Timely targeted interventions
Employer Statistics
• 208,000 employers
• 110,000 employers with ≤ 5 employees – 98% filed through ROS
– 45% use a software package to file
– Additional 8% using ROS Offline
Employee Statistics
• 2.5m active employments in 2015 (includes pensions)
• 200,000 employees >1 live employment
• Multiple employments with same employer
Forms Statistics
Forms Number received 2015
P45 705,936
P46 305,241
P30 1.3m
P35 221,620
Total 2.6m
• 5m forms generated to fulfil employer PREM
reporting obligations (including 2.5m P60s)
Jobs and Pensions service
Jobs and Pensions Number
No. of jobs and pensions added since September
54,424
New customers (Form 12A) 29,516
Existing customers 24,908
High Level Design and Process Flows
Seamless integration of reporting into the payroll process
Enter Employee Details
Get Latest Revenue Information
Calculations Finalise
Bank File
Payslips
Revenue Report
Money in Bank
Payslips
Pay and Deduction in
PS
Monthly / Quarterly
Abolition of P30s, P45s, P46s, P60, End of Year Returns
• P30
– Total tax due calculated from aggregate of all reports in the month / quarter.
– Employer payment made in line with current payment dates.
– Debt management for underpayments in year.
– Non filer interventions for non reporting in year.
– In year interventions based on risk analysis of reporting.
Revenue Report
Revenue Report
Revenue Report
Revenue Report
Total Tax Due Aggregate of all
reports
Pay Online
Abolition of P30s, P45s, P46s, P60, End of Year Returns
• P45 and P46s • Replaced by payroll submissions by employer with
commencement and cessation dates or by the employee managing their employment record via the Jobs and Pensions service.
Enter Employees Details (Start and
End Date)
Get Latest Revenue Information
Calculations Finalise
Bank File
Payslips
Revenue Report
Manage Jobs and Pensions Record
Accept Revenue’s division of credits
and bands
Abolition of P30s, P45s, P46s, P60, End of Year Returns
• P60s
– During the year employee can view up to date pay and deductions on PAYE Services
– Once final report for year processed employee can see final pay and deductions for that employment on PAYE Services