We’re sure you have heard lots about this already – HMRC will soon be introducing a new way of reporting for employers which will replace the year-end P35 or P14 forms.
RTI stands for Real Time Information and will affect any employer that runs a payroll. Instead of reporting changes and figures at the end of the tax year, you’ll be required to report on or before every single payday.
What’s more, this will be compulsory from April 2013 for any company with less than 5,000 employees – which includes your firm.
Peace of mind
If you’re currently running your own payroll you should be aware that these changes may cause an extra administrative burden and we wanted to reassure you that as an existing client of Revell Ward you can take advantage of our payroll services at a competitive rate.
We’ve invested for many years in Star Payroll Professional software to run payrolls for our clients and this has been approved by HMRC as fully RTI-compliant. So why not consider letting us give you a quote for running your payroll and dealing with the additional reporting necessary for RTI? You may be pleasantly surprised how cost-effective this can be.
Already have a payroll provider?
Of course, if you already outsource your payroll, your existing provider should have RTI covered already, but we’d suggest checking with them just in case. We’ve attached a handy checklist of questions to ask them [here]*, just so you can be reassured you don’t need to take any further action.
Failure to implement
We understand that HMRC are intending to monitor incorrect and missed RTI submissions. Employers making repeated mistakes or failing to send submissions could be targeted for PAYE compliance visits.
Find out more
If you’d like to find out more about our payroll services or how RTI could affect your firm, please don’t hesitate to get in touch. Just contact our RTI champion, Majad Ali on 01484 550035 or firstname.lastname@example.org who will be happy to discuss your concerns.