Week 53 – Is this the most complicated part of the PAYE system?
Have you noticed this year a box called Week 53 ticked on your P60?
It could be ticked if you are weekly, fortnightly or paid every 4 weeks and your payroll date is a Thursday. And if ticked, this gives you bonus tax credits – but if dealt with incorrectly this could hit you with an underpayment.
The Tax impact of Week 53 adjustments can approx. 200e for weekly and