Are You Ready For RTI
14 February 2013
HMRC is introducing a new way of reporting PAYE - Real Time Information, or RTI. Most employers will be legally required to use RTI by April 2013.RTI means employers will submit online PAYE details for ALL employees to HMRC on or before the day payments are made, using appropriate payroll software. Once in place, RTI should reduce the burden of the end of year filing procedures by removing the need for a P35 and P14 returns. It should also simplify the employee starting and leaving processes.
If you are an Employer, you should:
- Ensure that your current employee data is accurate, including those employees under the lower earnings limit. You should have FULL names, date of birth and National Insurance Nos.
- Find out if your current payroll software is compatible with RTI and, if not, find an alternative.
- All payroll staff should be well-informed about RTI so that you are ready from April 2013.
If you have any questions or need advice, you can contact Aine, our Payroll Manager, at our Lurgan office on 028 3832 4924 or email@example.com