We’ve got lots of other Real Time Information (RTI) advice at www.sage.co.uk/rti
HMRC have made an announcement today: “Reporting PAYE in real time (Real Time Information or RTI): relaxation of reporting arrangements for small businesses”
BUT before you start celebrating and calling a halt to your RTI preparations, as always, you need to read the announcement more closely.
It appears that the change relates to a specific scenario only:
When a business is paying its employees weekly but processing its payroll monthly, from April 6th under RTI this means the business would need to start submitting its payroll information to HMRC on a weekly basis.
However, under this amendment, if you are one of these businesses, you now have until October 2013 to adhere to the RTI rules (until that point you can continue to submit monthly, as long as it’s by the 5th of the following month).
NB if you are currently doing weekly payroll and are submitting weekly, no change, irrespective of size.
It’s not going away
Our advice is that RTI is not going away, and employers shouldn’t take their foot off the gas in getting prepared. Getting prepared means 3 things:
- Get up to speed.
- Get prepared.
- Get ready to submit.
1) Get up to speed
Make sure you understand RTI and how it applies to you. We have loads of resources to help you with this. You can find them here www.sage.co.uk/rti
2) Get prepared
Now is the time to prepare:
- You data – make sure it is accurate, up to date and in the right place
- Your business – collect any data you are missing
- Your software – check it is capable of processing data and can be sent to HMRC without an issue. Our payroll software does all of this
3) Get ready to submit
You are confident about what to submit, when to submit it and how to submit it
And finally, don’t panic we can help
For us, RTI has always been about making this change as smooth as possible for our customers:
- We’ve made over 480,000 submissions as part of the pilot for RTI
- 96% of our customers using our RTI ready payroll software found making submissions easy
- And they said it didn’t add any time to their process
We can help you to quickly get up to speed, get prepared and get submitting under RTI
Jonathan Dowden, Product Manager SBD