Payroll Services – Real Time Information (RTI)

 

Why is the Government Introducing RTI
 
From April 2013 2013 RTI (Real Time Information) is being introduced to the UK payroll system. The legislation will; require thousands of companies who are required to register for PAYE to report payroll information to HMRC at the time or just before an employee is paid.  If the organisation is required to be registered for PAYE then all employees must be reported to HMRC whether they earn above the lower earnings limit for National Insurance or not. RTI is being introduced in order to improve the PAYE sytem and how payroll is processed. It will enable errors to be identified and corrected earlier as payroll processing companies such as Perfect Payroills will be communicating information on a much more regular basis.
Payroll processing will become much more automated with the process embedded in all employer or pension providers payroll system.
 
The other added benefit of RTI is that it will support the governments overhaul of the benefits system and introduction of the Universal Credit that is due to be implemented in October2013.
 
 
Perfect Payrolls uses fully compliant HMRC software that is RTI ready. We have been involved in the RTI trial with HMRC and have been operating RTI since November 2012 for our clients who have expressed an interest in being early adopters.
 
This article is just one of several articles focusing on RTI available on our website www.perfectpayrolls.co.uk
 
Please visit our website or call us on 0800 7566980 if you want to talk about the Payroll Services that we are able to offer.

 

Joomla SEF URLs by Artio