More than a million employer PAYE schemes have started to report PAYE in real time, HMRC announced on 2 May.
More than a million employer PAYE schemes have started to report PAYE in real time, HMRC announced on 2 May.
Real-time information (RTI), which commenced on 6 April, requires employers to report to HMRC each time they pay employees rather than yearly.
“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,” said Ruth Owen, HMRC’s director general personal tax. “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.”
The relaxation of the “on or before” reporting requirement has clearly helped to ease the operation of RTI for smaller employers, said Colin Ben-Nathan, chairman of the employment taxes sub-committee at the Chartered Institute of Taxation.
“The high volume of submissions since 6 April is also down to the sheer hard work of employers, agents, software companies, professional and other bodies, and HMRC working together. It is vital that this close working continues over the coming months,” he said.
There had been teething problems, however, and the CIOT would seek to ascertain “where the real pinch points are”.
The ICAEW Tax Faculty has set up a new webpage providing links to HMRC guidance on RTI, as well as ICAEW helpsheets and other resources.
HMRC has also published the transcript of a Twitter Q&A session held on 30 April.
More than a million employer PAYE schemes have started to report PAYE in real time, HMRC announced on 2 May.
More than a million employer PAYE schemes have started to report PAYE in real time, HMRC announced on 2 May.
Real-time information (RTI), which commenced on 6 April, requires employers to report to HMRC each time they pay employees rather than yearly.
“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,” said Ruth Owen, HMRC’s director general personal tax. “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.”
The relaxation of the “on or before” reporting requirement has clearly helped to ease the operation of RTI for smaller employers, said Colin Ben-Nathan, chairman of the employment taxes sub-committee at the Chartered Institute of Taxation.
“The high volume of submissions since 6 April is also down to the sheer hard work of employers, agents, software companies, professional and other bodies, and HMRC working together. It is vital that this close working continues over the coming months,” he said.
There had been teething problems, however, and the CIOT would seek to ascertain “where the real pinch points are”.
The ICAEW Tax Faculty has set up a new webpage providing links to HMRC guidance on RTI, as well as ICAEW helpsheets and other resources.
HMRC has also published the transcript of a Twitter Q&A session held on 30 April.
