PAYE Real Time Information RTI - New system

Implementation

  • Announced by HMRC on 4th April 2011.
  • Testing starts October 2011.
  • Implementation April 2013.
  • Compulsory from October 2013.
  • We assume penalties for failing to implement.
  • If we are doing your payroll we will be ready.
  • Your software supplier will hopefully be ready when the time comes.

Staff payments and deductions

  • Monthly declaration to HMRC.
  • P45/P46 "...remove the need ... over time".

PAYE/NI payments

  • Actual PAYE/NI liability declared to HMRC on a monthly basis.
  • Presumably collection activity will be intensified.
  • We would envisage early recourse to bailiff enforcement.
  • If you have cash flow difficulties you will need to make formal arrangements for time to pay without delay.
  • The existing penalties for late payment will automatically be enforced as part of the collection activity.

Talk to us about PAYE Real Time Information and your payroll generally