Real Time Information system.
November 7th, 2011
RTI for every Employer. HMRC is introducing a Real Time Information system which will radically change the way all Employers report PAYE Tax & NI. The definitive deadline for all employers to adopt the RTI system is Oct 2013 with an introductory phase beginning in April 2013. RTI will require all employers to notify details of all earnings paid to employees & directors & the corresponding tax & NI deductions within a matter of days following the end of the month in which the payment is made. Now is a good time to check with your Payroll software provider to ensure that it will be adding an RTI function. If no payroll software is currently used, the free issue HMRC Basic PAYE Tool will have an RTI function in time for the deadline in April 2013.
The content of this article is for general information only. It should not be relied on and action which could affect your business or personal circumstances should not be taken without appropriate professional advice.
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