It has always been important to make sure the information that you send HMRC about your employees is accurate to help ensure that your employees pay the correct Income Tax and NICs. Improving the accuracy of the information you hold and send to HMRC will help match the information to the correct HMRC record. This could save you money by helping to reduce the number of employee enquiries you receive.
This is not just important for tax and NICs. From October 2013, RTI will support Universal Credit by providing the DWP (Department for Work and Pensions, formerly the Benefits Agency) with up to date information about claimants' employment income. Ensuring your employee information is correct will help to ensure they receive the right amount of credit.
As part of the process for an employer joining RTI, HMRC will align the records of employees held on the NPS system (National Insurance and PAYE Service, is a single national computer system introduced by HMRC in July to replace the 12 regional databases that previously handled PAYE processing) and the records held by employers.
In the meantime HMRC recommends that you start to prepare for RTI by checking the information you hold.