From April 2013 all business will be required to submit Real Time Information to HMRC each time they pay their staff.
RTI stands for Real Time Information. It is a new payroll reporting method that all businesses that operate a PAYE scheme will be required to do each time an employee is paid. It will replace the current system of the annual year end return known as the P35. All business that have a PAYE scheme set-up with HMRC will be required to submit Real Time Information to HMRC from April 2013.
If you are a business that operates your own payroll system using payroll software, then from April 2013 you will be required to ensure your software is RTI ready and each pay day you will be required to submit Real Time Information. Or if you are a business that operates your own PAYE scheme and report to HMRC manually then you will need to switch to reporting to HMRC online.
So if you need help getting ready for RTI contact us now to see how we can help. We offer a range of fully RTI integrated payroll services that cover all HMRC requirements. Our payroll service will ensure all HMRC Real Time Reporting is completed as well as managing your PAYE scheme and producing the payroll for as little as £2 per payslip.