• Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Login
    Login Login form

RTI slowdown for small businesses

Posted by on in Payroll
  • Font size: Larger Smaller
  • Hits: 1511
  • Subscribe to this entry
  • Print

The introduction of the new system where HMRC collect Real Time Information (RTI) for PAYE, represents a fundamental change in the way employers interact with HMRC. The new system involves employers sending HMRC information about tax and other deductions each time a payment is made as part of the payroll process, rather than at the end of the year as is currently the case. The majority of employers are expected to join the scheme in April 2013 with some of the largest employers being gradually phased in until October 2013 in time for the national introduction of Universal Credit by the Department for Work and Pensions (DWP).

HMRC have confirmed that they have relaxed the reporting arrangements for small employers who pay employees weekly, or more frequently, but only process their payroll monthly. Until 5 October 2013 employers with fewer than 50 employees, who find it difficult to report every payment to employees at the time of payment, may send information to HMRC by the date of their regular payroll run but no later than the end of the tax month (The tax month ends on the 5th of the following month. So January 2013 ends 5th February 2013).

Rate this blog entry:
0
Tagged in: HMRC Payroll

Comments