Accountancy firm McBrides is one of 100 medium-sized employers that is to pilot HM Revenue and Customs' (HMRC) real-time information (RTI) system.
RTI is intended to make it easier for employers, providers and HMRC to administer the pay-as-you-earn (PAYE) system. Most employers will be using the programme by April 2013 and all employers will be using it by October 2013.
McBrides' payroll bureau will feedback its findings to HMRC to ensure that the RTI system is ready to be rolled out nationally. It will also adapt its services to help employers of all sizes to comply with the RTI system when it comes into effect, allowing them to avoid the threat of potential fines.
Keith Utton, practice manager at McBrides, said: “We urge all employers to act fast and begin preparing for the new HMRC rules now to avert the threat of fines and avoid providing inaccurate information once it has gone live.
“RTI relies on very accurate employee information and employers will need to have gathered all the data in advance and set each employee up on their payroll system before they can process their pay period.”
Read more on tax and legislation
