Payroll RTI (Real Time Information)

From April 2013 there will be a new way to report PAYE information in real time: Real Time Information – RTI.

PAYE itself will not change, just the way and the frequency in which PAYE details are submitted to HMRC.  Employers will be required to pass detailed information to HMRC on payroll deductions of tax, NI and student loans at the time of payment, rather than once a year at payroll year-end.  This will ensure that HMRC has accurate, up-to-date information for all PAYE employees.

The introduction of RTI is meant to improve the operation of PAYE for employers, HMRC and employees.  It will also provide acurate records on wages and tax for the forthcoming Universal Credit, so eligible employees will receive the correct amount of benefits.

In reality, it may result in additional administrative costs to employers.  Sterling Accounting Services offers a cost effective, RTI compliant, solution to all payroll needs.

Prices start from:

Weekly payroll – £2.00 per employee

Monthly payroll – £4.00 per employee

Prices include all submissions to HMRC ensuring full compliancy by employers.  For a free, friendly chat about your requirements, contact Christine Marsh on 01325 301139 or 0797 4463 978, or drop an e-mail to christine@sasnortheast.co.uk

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