What is RTI?
Real Time Information (RTI) is a service being introduced by HMRC to improve the operation of PAYE, set to go live from April 2013.
HMRC is hopeful the introduction of RTI will simplify the Payroll process by removing the need to submit P35 and P14's as well as simplifying the employee new starter and leaver processes.
How will it work?
Using RTI, employers will tell HMRC about tax, NICs and other deductions as part of the normal payroll routine, instead of sending information once a year at Payroll Year End.
HMRC are hopeful that the more regular reports about payroll and employee changes mean HMRC will have more accurate data, allowing them to respond more efficiently to errors and reduce the possibility of fraud.
Please note an Internet connection will be required to use RTI.
What are the timescales for introduction of RTI?
Most employers will be legally required to report payroll information in real time from April 2013 with all employers doing so before October 2013. HMRC will tell you when your business needs to make this move.
Our development team is currently working on the changes required to your Evolution system to meet the requirements set by HMRC.
We will keep you posted as to how RTI will affect your Evolution system.
Find out more
It is recommended that you familiarise yourself with RTI now and understand how it will impact your business and processes.
For full details, please visit the RTI section of the HMRC website via the link below.