In April 2013 HM Revenue & Customs is introducing a new way of reporting PAYE. This has been called ‘Real Time Information’, or ‘RTI’. ‘Real Time Information’ means that as an employer, you will tell HM Revenue & Customs about PAYE payments via an online submission system, at the time payments are made, every time payments are made. Payroll software will need to be compatible with the RTI system to collect the necessary information and send it to HM Revenue & Customs Online. This means that you will submit information about PAYE payments throughout the year as part of your payroll process, rather than at the end of the year as you do now.
Most employers will be legally required to report payroll information in real time from April 2013 with all employers doing so before October 2013. HM Revenue & Customs will tell you when your business needs to make the change over.
- You will need compatible computer software.
- Processing your payroll manually is no longer an option!
- Annual calculations are no longer an option!
We already have compatible software, so how can we help?
- If you want to continue to use your manual system, then just phone, fax or email your information and we can submit it for you.Letting us take over your payroll administration has distinct advantages:
- Our payroll service offers outstanding value. For example: A business with up to 15 employees will pay only £50 per payslip for weekly pay or £3.20 per payslip for monthly pay, (a minimum charge of £50 per quarter applies). Everything is included in the price!
- We are kept fully up to date with all HM Revenue & Customs changes in rules and legislation, so you won’t have to worry about that.
- The time you spend administering your payroll can be utilised doing something else more productive, more constructive, more relaxing, more fun!
- No more payroll software upgrades and updates – saving you money!
- All you need to do is send us your time sheets – saving both time and money!
If you run your own payroll it will pay you to contact Karen Greenfield for a no obligation quotation.