RTI Is Getting Close…

As we have described in a previous blog, Real Time Information, or RTI, will be coming into force for most employers from 6th April 2013.  This entails the submission of payroll information each and every time a payment is made to an employee, as well as possible monthly submissions if there are any deductions from the expected PAYE liability.

We cannot stress enough how important it is for all employers to begin taking RTI seriously.  The data cleansing process – ensuring all data is accurate and up to date – should begin as soon as possible to ensure you are ready to submit information on an RTI basis, and you must also ensure your software is able to handle the RTI process – both your payroll software and, if applicable, your BACS software.

HMRC will be sending out letters this month to remind employers of their obligation to begin reporting in real time. The letters will inform employers to ensure their software is RTI ready and includes a checklist explaining the key steps employers need to make to ensure RTI compliance.

We will be releasing an RTI information pack soon in our Resources section, but you can also browse HMRC’s RTI website for more information.

If you would like further information on RTI, to discuss any problems you may have, or for any further advice, feel free to Contact Us .

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