HMRC Confirms Monthly RTI Respite
17 April 2013
HMRC will ease Real Time Information (RTI) reporting deadlines for small businesses with fewer than 50 employees that pay their staff weekly or more regularly.
Until 5 October 2013, small employers who find it difficult to report every payment to employees at the time of payment, may send information to HMRC by the date of their regular payroll run, but no later than the end of the tax month (5th). HMRC recognises that some small employers who pay employees weekly, or more frequently, but only process their payroll monthly may need longer to adapt to reporting PAYE information in real time. HMRC have therefore agreed a relaxation of reporting arrangements for small businesses.The last minute news comes after a widespread campaign across the profession and business groups, urging the government to ease the reporting and administrative burden on small firms by allowing them to submit payroll data just once a month.
Should you require further information on PAYE and/or the new RTI process, please contact Aine at our Lurgan office at (028)3832 4924 or by e-mail at aine@dalypark.com .