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Real Time Information (RTI) - six months to go. 01/10/12

HM Revenue & Customs (HMRC) is kicking off its Real Time Information (RTI) awareness campaign this month. This includes writing to over 1.4 million employers. The letters will provide information on what employers need to do to prepare for the new way of reporting PAYE data starting in April 2013.

PAYE itself will not change – just the way, and how often, employers send this data to HMRC.

The letters form part of a wider HMRC campaign, starting immediately, to raise awareness among employers of the changes. The campaign will include targeted flyers and emails, regular live Twitter Q&As, You Tube videos and roadshows across the country. It will target employers of all sizes, Payroll Bureau, accountants, professional bodies, software providers and other representatives and industry groups

HMRC’s Director General, Ruth Owen, said: “Don’t put it off – April 2013, when Real Time Information becomes a reality, is now less than six months away.

PAYE RTI is being introduced to improve the operation of PAYE for employers, HMRC and employees. It will also provide up to date information about wages and tax for the forthcoming Universal Credit, so eligible employees will get the right amount of benefits.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments: “From April 2013, employers will send PAYE data electronically to HMRC each time they pay their employees as part of routine payroll processes rather than sending a separate return at the end of the year. Returns will include details of all employees’ pay, tax and deductions. If you are not sure of the process, or need advice and help, contact ABDS before the deadline.”
 
If you need any help and advice for your business on Payroll, National Insurance or an Outsourced Accountancy Service, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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