Tyas & Company
Chartered Accountants, Registered Auditors, Tax, Financial & Business Advisors

PAYE:- Real Time Information

Real Time Information

From April 2013 HM Revenue & Customs is introducing a new way of reporting

PAYE: Real Time Information - or RTI as it will be known.

Most employers will be legally required to send PAYE information in real time from

April 2013, with all employers submitting PAYE information this way by October

2013.

 

What do you need to think about now to make sure you are ready?

Data Quality – The quality of the employee information that HMRC hold and process is crucial to the successful introduction of submitting PAYE information in real time.

We recommend you start to prepare by checking the details you hold

for employees, in particular:

• National Insurance number

• full names

• date of birth

For more information on Data Quality see

 http://www.hmrc.gov.uk/rti/dip/index.htm

 

Payroll Alignment - This is an important process that ALL employers and pension providers will need to undergo. Alignment will ensure that HMRC and you hold a consistent view of the employees in every PAYE scheme before you

start to send HMRC  PAYE information in real time.

To do this, you will have to provide details of all employees who have been on the payroll since the start of the current tax year – even if they have not been paid in the relevant period or have now left the payroll.

For more information about payroll alignment see

http://www.hmrc.gov.uk/softwaredevelopers/rti/payroll-alignment.pdf

 

Payroll software - If you use payroll software, it will need to be updated so that it can submit PAYE information in real time.

HMRC’s Basic PAYE Tools product is also available free of charge to employers with 9 or fewer employees.

For more general information on submitting PAYE information in real time please see

http://www.hmrc.gov.uk/rti/index.htm

 

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Stephen Tyas                             Stephen Ayres

 

 

Registered to carry on audit work in the UK by the 
Institute of Chartered Accountants in England and 
Wales and authorised and regulated by the 
Financial Conduct Authority for investment 
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Telephone: 01293 843900

Fax: 01293 614312

Email: reception@tyas.com  

5 East Park, Crawley, West Sussex, RH10 6AN