Latest updates and stories from Bedfordshire Chamber of Commerce and its Members

HMRC: PAYE Real Time Information – six months to go

Written by Paula Devine | 01 Oct 2012

HM Revenue & Customs (HMRC) is kicking off its Real Time Information (RTI) awareness campaign this month. This includes writing to employers running the 278,767 Pay As You Earn (PAYE) schemes in the East of England.

The letters, which will be sent throughout October, will provide information on what employers need to do to prepare for the new way of reporting PAYE data starting in April 2013.

PAYE itself will not change – just the way, and how often, employers send this data to HMRC.

The letters form part of a wider HMRC campaign, starting immediately, to raise awareness among employers of the changes. The campaign will include targeted flyers and emails, regular live Twitter Q&As, You Tube videos and roadshows across the country. It will target employers of all sizes, Payroll Bureaux, accountants, professional bodies, software providers and other representatives and industry groups.

HMRC’s Director General, Ruth Owen, said:

“Don’t put it off – April 2013, when Real Time Information becomes a reality, is now less than six months away.

“The letters going out to employers include a useful help sheet, which tells them what to do to get ready for the change. Employers should read that and take action such as speaking to their payroll software provider or payroll service provider and checking their employee data is accurate.

“Employers in the pilot who are already using RTI are telling us how straightforward and easy to use it is once you prepare.”

From April employers will send PAYE data electronically toHMRCeach time they pay their employees as part of routine payroll processes rather than sending a separate return at the end of the year. Returns will include details of all employees’ pay, tax and deductions.

PAYE RTI is being introduced to improve the operation of PAYE for employers, HMRC and employees. It will also provide up to date information about wages and tax for the forthcoming Universal Credit, so eligible employees will get the right amount of benefits.

Source: HMRC

Topics: Bedfordshire, Bedfordshire Chamber of Commerce, business, HMRC, offices, Luton, News, SEMLEP, Uncategorized

Paula Devine

Written by Paula Devine

Paula is Head of Membership and Global Services at Bedfordshire Chamber of Commerce.

More stories...