Since 6 April 2013 employers have been reporting PAYE information to HM Revenue & Customs (HMRC) in real time. You may see this referred to as Real Time Information - or RTI.
This means you must set up payroll records for the new tax year using payroll software, some of which is free. It makes PAYE submissions to HMRC be updated in real time, every time you pay your employees.
Earlier this year, HMRC announced that the penalties for late returns of payroll information (RTI) would start from October 2014 instead of April 2014. If you operate your own payroll, make sure that your RTI submissions are made on time to avoid an automatic penalty.
Remember that the RTI submission should normally be made on or before the date when the wages or salaries are paid to the employees.
Check for more information about PAYE payments and deadlines and penalties at http://www.hmrc.gov.uk/payerti/paying/deadline.htm
This means you must set up payroll records for the new tax year using payroll software, some of which is free. It makes PAYE submissions to HMRC be updated in real time, every time you pay your employees.
Earlier this year, HMRC announced that the penalties for late returns of payroll information (RTI) would start from October 2014 instead of April 2014. If you operate your own payroll, make sure that your RTI submissions are made on time to avoid an automatic penalty.
Remember that the RTI submission should normally be made on or before the date when the wages or salaries are paid to the employees.
Check for more information about PAYE payments and deadlines and penalties at http://www.hmrc.gov.uk/payerti/paying/deadline.htm
