Attention Employers: Time is ticking : Payroll reporting is changing – operating PAYE in real time

HMRC is introducing a new way of reporting PAYE – called Real Time Information, or RTI.

HM Revenue & Customs (HMRC) reports that from April 2013, employers will be legally required to report PAYE in real time. “This means that information about all PAYE payments needs to be submitted to HMRC online each time a payment is made as part of the payroll process, rather than at the end of the year as they are now”, HMRC says.

If you need more information then go to www.hmrc.gov.uk and follow the links in order to obtain more information on how you are affected as an employer, and what you need to do.

[Please note that SewellBrydenGunn does not advise specifically on PAYE/payroll matters but is happy to discuss other general tax issues with individuals trustees and business owners/directors.]

PhotoCredit:  SBG PhotoStock

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