Real time info

RTI – the facts for payroll services

RTI – the facts for payroll services

Real Time Information (RTI) came into effect in 2013 by HMRC to improve the PAYE system of operation. The goal was to reduce Tax Credits errors and fraud, make the PAYE system more accurate, allow HMRC to pursue late payments effectively, and in addition, support the launch of Universal Credits.

How RTI affects employers

Since October 2013 it has been compulsory for employers to tell HMRC about PAYE payments at the time they are processed as part of the payroll system, rather than at the end of the tax year as it was previously. Employers are now required to submit PAYE and NICs information electronically to HMRC as part of the payroll process. This is usually done through payroll software, however employers must ensure that the payroll data is precise and in the correct format for RTI purposes.

As part of our payroll service, we can help you with RTI. If you would like to find out how our payroll service can benefit your company, please speak to one of our friendly team now on 01621 829632.

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