Real Time Information (RTI) update
A recent press release from HMRC confirmed that more than 1.6 million employer PAYE schemes, covering over 40 million individual records, are using RTI. HMRC is currently in the process of writing to around 167,000 employers who have missed one or more of the PAYE reporting deadlines. HMRC is not writing to employers who have registered their PAYE scheme as an annual scheme.
HMRC’s Director General for Personal Tax, Ruth Owen, said: ‘If agents have set up, on behalf of their clients, PAYE schemes that have never been used – or their clients’ PAYE schemes have now ceased – they should call HMRC to close the scheme.’
The introduction of RTI represents a fundamental change in the way employers interact with HMRC. The majority of employers joined the scheme in April 2013 with some of the largest employers being gradually phased in until October 2013 in time for the national introduction of Universal Credit by the Department for Work and Pensions (DWP).
If you are struggling to cope with the various reporting obligations imposed by the RTI system, we can help. Please call and ask for details of our payroll services.