Are you ready for RTI?
On a chilly autumn evening in October, over 40 HOSPA members gathered at the offices of Mazars at Towerhill, London, to listen to an excellent and informative presentation on Real Time Information from Maggie Anderson at HM Revenue and Customs. This subject was essential listening for those working in finance and HR with responsibility for payroll reporting.
From April 2013 almost all employers and pension providers will begin reporting their payroll information to HM Revenue and Customs (HMRC) on or before every payday.
The objectives of the RTI programme being introduced by HMRC are:
to modernise and improve the operation of PAYE, to make it easier for employers, pension providers and more accurate for individuals
to support the operation of Universal Credit when introduced in 2013 by the Department for Work and Pensions
The structure of PAYE remains unchanged but the way in which employers and pension providers send information about PAYE to HMRC is fundamentally changing.
The changes bring together payroll and payment processes which means that instead of sending all PAYE details in one go, at the end of the year, from April 2013 employers (or their accountant, bookkeeper or payroll bureau) will have to:
send details every time a payment is made, at the time it is made
use payroll software to send the details electronically as part of your routine payroll process
For more information visit the HMRC webinar ‘Getting Ready for RTI’ at: https://www3.gotomeeting.com/register/847105886
Our thanks to Gareth Jones, Partner at Mazars for kindly hosting this event and providing an excellent buffet!
Maggie Anderson and colleagues from the HMRC will be joining us at HOSPACE 2012 on 22nd November to provide conference delegates with an update on the requirements to maintain compliance with RTI reporting. The presentation will take place in the main conference room during the Education Programme in the afternoon. To book your place visit www.hospace.net