On 6 April 2013, HMRC is changing the way that employers have to report payroll information. It must be filed online on a weekly or monthly basis instead of by annual return – and there are significant penalties for non-compliance.
The rules apply to everyone
The new system applies to companies that have employees who earn less than the Lower Earnings Limit or are paid on a casual basis or annually. Even if you are one of the 20% of SMEs that don’t use a computer, you are still required to file your returns online at the appropriate times or face penalties.
Are you ready?
There is more to being ready than simply buying or updating your payroll software – some of the essential action needed BEFORE 6 April is the cleansing of your payroll data to ensure all records are accurate and complete, collection of extra data required by RTI and ensuring that you’re registered for PAYE Online. The first return, a ‘Full Payment Submission’ will then need to be made and going forward you will need to ensure that every payment of earnings is reported on or before the date of payment.
JSO clients can rest easy!
We have invested in the new software necessary to be compliant with Real Time Information and will deal with every aspect of RTI for you, ensuring as minimal disruption to your business as possible.
Do you know of anyone we can help?
We would like to help as many businesses as possible with RTI and as such, we’re offering new clients a 20% reduction on the payslip cost for the first 3 months.
And existing clients who refer someone new to us are eligible for a voucher – details on our website.