Over 70,000 PAYE returns submitted through RTI

/ Posted By - Bradleys Accountants / Categories - Advice for Small Businesses

Since the switch to Real Time Information (RTI) on April 6th, 70,000 PAYE returns have been submitted using the new system.

It requires businesses of all sizes to submit their payroll to HM Revenue and Customs every time the payroll is run, rather than at the end of the tax year. It is believed that it will make PAYE easier for employers to manage and HMRC to operate, allowing for members of staff to receive information more quickly, while also helping to support the introduction of Universal Credits.

"RTI is the biggest change to PAYE in 70 years and it is great news that so many employers have started to report PAYE in real time," said Ruth Owen, HMRC's director general for personal tax.

“But we are under no illusions – we know that it will take time before every employer in the country is using RTI. We appreciate that some employers might be daunted by the change – but they don’t need to be. HMRC is on hand to offer help and support and we are taking a pragmatic approach – which includes no in-year late filing penalties for the first year.”

HMRC is offering plenty of support to businesses, including free software for Britain’s smallest firms that have less than nine employees. The department’s website also provides employers with a range of hints and tips to help them get to grips with the changes.

Pre-recorded and live webinars are available in the “know where to find extra help” section of the RTI site to provide guidance, while there will also be face-to-face events across the country and Q&A sessions regularly held on the HMRC Twitter account.

Individuals looking for small businesses tax advice can also view four new webinars unrelated to RTI on the department’s website. One is on employer annual returns, which have to be submitted by May 19th, another is on business record-keeping for self-employed individuals and another on tax issues for self-employed childminders.

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