November 2012

RTI - Real Time Information


If you're an employer you will have started to receive broadcasts from HMRC shaping you up to comply with the biggest change to PAYE in 70 years. Despite a Government minister saying, "it's just the touch of a button" a whole pile of extra red tape is set to land upon all businesses with employees from next April. What is clear is that payroll payment flexibility will be seriously reduced for some employers. In addition all employees must be handled by payroll software, so that's the end of manual systems. And that software must work with RTI - not all does, so some employers will have to change. So what's in it for the employer - well nothing, apart from significant extra work and cost. Still this will bring opportunities, principally new business for outsourced payroll service providers! Even accountants are really thinking - is it worth continuing to provide a payroll service with this extra level of hassle, including reporting to HMRC at every single payroll run, even weekly. Not to mention the new HMRC fines looming.

This entry was posted in Accounting, Payroll and tagged in Payroll Software, HMRC by bookchadmin