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HMRC INVESTIGATION

REAL TIME INFORMATION


From 6th April 2013 the way that you report PAYE to HMRC is changing.

ALL Businesses will have to report their PAYE information in Real Time. This is

widely being referred to as RTI.


What does this mean?


Every time that your business pays an employee, at the time you pay the employee,

you will need to report this detailed information to HMRC. The information to be

submitted includes details of the hours worked, the amount paid, the Income Tax

and National Insurance amounts deducted (if applicable), the pay period and some

personal information on the employees.


How does this work?


If you are currently producing a manual payroll and filing online the Annual Return

with HMRC at the end of the year, you will need to look into finding either payroll

software to use, or an Accountant, Bookkeeper or Payroll Bureau to process this for

you. – You can find details of accredited software on HMRC’s website.


If you are using payroll software that has been updated to be used under the new RTI

regime then you will need to review what further information you will need to obtain

from your employees to comply with filing PAYE under RTI.


When will RTI come into effect?


Reporting PAYE in Real time is mandatory from 6th April 2013 and failure to comply

with your obligations under RTI could lead penalties.


For more information from HMRC on RTI visit HMRC’s website on:

       http://www.hmrc.gov.uk/payerti/getting-started/index.htm

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