Real Time Information RTI

From 6 April 2013 most employers will be required by HM Revenue & Customs to submit details of wages and salaries to HMRC every time they pay their employees and directors.

RTI came into effect from 6 April 2013 for existing employers with a payroll including 1 to 4,999 employees

From November 2012 new employers have been asked to join the RTI scheme immediately if their software is RTI Ready

Major changes

• When? Every time you pay wages or salary to your staff and directors you must inform HMRC online on or before the day you make the payment. In most case once a week or once a month.
• How? The data must be submitted online to HMRC using payroll software. If you have 9 or fewer employees in a year you can use the free facility provided by HMRC. Otherwise you will have to purchase your own software or use a payroll bureau like Rawcliffe & Co.
• What? The information submitted on a weekly / monthly basis will include gross pay, deductions for PAYE, National Insurance, student loans etc and adjustments for Statutory Sick Pay and Statutory Paternity Pay. The submission will also notify HMRC of any staff joining or leaving employment.
• Who? If you want to discuss how we can help please contact Malcolm Ashton at our Kirkham Office or David Harben at our Blackpool Office.
• Where? Further information can be found by following the link to "PAYE New RTI Scheme" from the Links page.