Avoidance is a word that should be avoided when it comes to HMRC. If you want to avoid a Real Time Information (RTI) fine avoidance is definitely not an option.
HMRC are working hard to make everyone aware of the impact of RTI and so are we. Our work on the RTI pilot identified three key areas likely to cause problems and risk a fine:
- The quality of your data
- The quality of your business preparation and processes
- The capabilities of your software to bring it together
Read our three step guide to dodging a fine:
1. Education and preparation
“Fail to prepare, prepare for a fine!”
- Familiarise yourself with RTI and understand how it may impact your current processes
- Register with HMRC for PAYE online – even though there are changes in how you report your payroll information, you will still need to register for PAYE Online
- Check the data you hold on your employees is up to date and accurate – HMRC says that over 80% of data quality problems are connected to employers holding incorrect or inadequate information.
Tip – Sage 50 Payroll RTI Edition can do a lot of the preparation for you.
2. Get your RTI toolkit ready
The next step is to get the right tools for the job.
RTI legislation requires you to submit data to HMRC each time you pay your employees – an unmanageable task if you don’t have the right software or none at all!
Ask yourself the following questions:
- Is my current software RTI ready?
- If so, is it RTI ready now?
- Does it offer help preparing, or submit only?
- Does it manage data quality?
- Does it offer RTI help?
If you answered no to any of these questions Sage 50 Payroll RTI Edition can offer a solution. It does a lot of the heavy lifting for you by checking employee data; writing letters to employees to verify information; and keeps you up to date with new forms and processes.
3. Learn how to use your tools
You have armed yourself with RTI information and have the software tools to get the job done; the last step to success is making sure you know how to tackle RTI.
Join the ranks of the RTI fine avoiders and take part in some of our RTI training.
RTI training – office based
- RTI Seminar – regional seminars on RTI legislation and what it will mean for your business. You don’t need to be a Sage customer to attend the seminars!
- RTI classroom training – regional workshops , ideal for Sage 50 Payroll customers
RTI training – Online
- Remote RTI training - One-to-one training with a Sage RTI expert
- RTI E-learning Flexible online training at a pace that suits you
- Recorded RTI Webinars – On-demand webinars you can watch as many times as you need
- Live RTI Webinars – Live RTI demonstrations from an RTI expert using Sage 50 Payroll
Find out more about training and support Sage can offer new and existing customers on our training pages.
Here’s a reminder of the three key steps to success and staying on the right side of RTI with Sage:
Jonathan Dowden, Sage Payroll Team