The introduction of Real Time Information (RTI) is the biggest change to the PAYE system since 1944. RTI will be compulsory from April 2014, and here at Numerus we are ready to support our clients through this time of transition.
Real Time Information (RTI) requires that employers report to HMRC every time a member of staff is paid, so that HMRC’s record of their earnings (and PAYE liability for the current financial year) is always as accurate as possible.
Previously, employers were able to submit information to HMRC just once annually, at the end of the financial year – so the introduction of RTI is set to have a significant impact on businesses’ payroll administration. Those that don’t comply with the new rules will be subject to fines issued by HMRC – even if their payroll is not processed internally.
As payroll experts, we are fully prepared to implement the changes to payroll that RTI requires, allowing our clients to feel completely confident that their systems are compliant with the law.
If you need help with preparing for the introduction of RTI, please contact us.
For more information on how Numerus can assist you get in touch today.
Call: 01727 815409