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Payroll and RTI

2013-03-07

PAYE is changing from 6 April 2013 to Real Time Information (RTI).  

The way this change will affect your business is that you will be required to make a detailed Full Payment Submission and also a separate Employer Payment Summary to HM Revenue & Customs every time you pay an employee, at the time the payment is made.

There are penalties for late reporting (although these will not start until April 2014).

Whichever payroll software you use, you should receive an update to enable you to fulfil the requirements of RTI.  If you have nine or fewer employees you will be able to use HMRC's own free Basic PAYE Tool.

Have a look at http://www.hmrc.gov.uk/rti for more details including a checklist that you can use to see if your business is ready to operate RTI.

Any questions, feel free to ask!

Vanessa

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