More than one million pay-as-you-earn (PAYE) schemes have started to use real-time information (RTI) reporting, according to the HM Revenue and Customs (HMRC).
The legislation, which came in to effect from 6 April 2013, means that employers report PAYE in real time from their first pay day on, or after, that date each time they pay their employees, rather than yearly.
Ruth Owen, HMRC’s director general personal tax, said: “RTI is bringing PAYE into the 21st century, and it is amazing that we have reached the one million mark in less than a month. This is at the top end of our expectations. However, we’re not complacent and are carefully monitoring submissions, but so far things are going well.
“We have had lots of feedback from many employers saying that RTI is easy to use. We know it will take time before all employers adapt to RTI, but any which haven’t started reporting in real time should do so quickly. All the help they need is on HMRC’s website.”
HMRC has relaxed the regulations for small employers, so that organisations with fewer than 50 employees have until 5 October 2013 to comply with the legislation.
