HM Revenue & Customs (HMRC) has launched a video guide to help introduce employers to new Real Time Information (RTI) procedures.
The video looks at what RTI means for employers, the main changes that will be introduced, a timetable and other help and support that is available.
RTI is a new way for employers to report their employees’ pay and tax details. It will make it easier for employers, pension providers and HMRC to administer PAYE. Employers and pension providers will tell HMRC about PAYE payments at the time they are made – rather than at the end of the year.
Jane Brothwood – Head, Stakeholder & Communications Team, RTI Programme, HMRC said:
“It’s really important that employers are ready and prepared for the introduction of RTI. The video that we have launched should help answer most questions and provide insight for our vision of bringing payroll into the 21st century.
“So, if you have a spare few minutes, watch the video and see what you can do to help prepare your organisation to help get things ready, for you, your employees and HMRC.”
A pilot started in April 2012 and is going well.
For more information on improving payroll data go to www.hmrc.gov.uk/rti/