Payroll & Real Time Information

Real Time Information (RTI) is a new system for reporting Pay, Tax, National Insurance and other details about your employees to HMRC. It is thought that by collecting payroll data in real time, individuals’ tax deductions will be more accurate throughout the year. The intention is also to make the PAYE system easier to operate thus releasing the burden on employers and providing better tax administration to HMRC.

As an employer you will still be responsible for all tax deductions and calculations but instead of submitting this data once a year to HMRC, you will be required to return year to date figures at the same time as payment is made to your employees, be that weekly, fortnightly or monthly.

Administering your payroll can be time consuming and burdensome, diverting energy and resources from the core activities of your business.We act as payroll bureau for many of our clients ensuring compliance with regulations and taking the worry out of this task. And the task is made all the more difficult by the growing complexity of taxation and employment legislation, development of real-time-information reporting and the accompanying regime of penalties for non-compliance.