Ready to report in Real Time?

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Despite the last minute temporary relaxation to RTI requirements until 5th Oct 2013 for businesses with fewer than 50 employees, its still worth getting ready for Real Time Information (RTI) now. RTI is the new method of reporting PAYE from 6th April where employers tell HMRC at the time payments are made in place of the former annual disclosure. A reported saving of £300 million will be made by businesses due to a reduction in administration costs and HMRC with receive more accurate and up to date records reducing the number of cases where people have under or over paid tax during the year.

You can download HMRC’s RTI readiness guide here  or for more information on payroll and RTI click here

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