HM Revenue and Customs (HMRC) is reminding employers about real-time information (RTI) reporting, one month before the legislation takes effect on 6 April.
From that date, employers will be required to move to a new way of reporting pay-as-you-earn (PAYE), doing so each time employees are paid rather than annually.
HMRC suggests employers take the following steps to prepare for RTI:
- Go to HMRC’s website for information, including on how to prepare, payroll software options and tips.
- Acquire new or updated software. Employers will need to talk to their payroll software provider or payroll service provider.
- Start checking and updating employee information. It is vital that the information employers hold on their employees is up to date.
Ruth Owen, director general personal tax at HMRC, said: “This is the biggest revolution in PAYE in around 70 years and, over time, will reduce the costs of administration for organisations.
“Employers can find all the information they need about the new system on HMRC’s website and small organisations can download free software to help them get ready.”
HMRC is offering support for organisations preparing for the change, including free software for employers with nine or fewer employees, targeted flyers and emails, regular live Twitter question-and-answer sessions, YouTube videos and roadshows across the country.
