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Real time information 'remains on track'

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Ruth Owen, HMRC’s director general of personal tax has reported that the real time information (RTI) pilot ‘continues to go very well and remains on track’, with over 1,800 PAYE schemes ‘successfully submitting PAYE returns in real time’. HMRC encourages employers not in the pilot to prepare themselves to be ready for the roll-out of RTI in April 2013.

From April 2013, most employers will be required to deliver PAYE information on or before the date that payment is made. Certain exceptions will, however, be made to allow additional time where it would be difficult or impossible to report data in real time. Such cases might include workers who are paid in cash at the end of the day or shift, according to HMRC.

Regulations will be published in draft, and HMRC will issue guidance on the reporting of ‘ad hoc advances of pay’ and a ‘statement of operational practice on reporting of payments made by expat employers and those operating share schemes.’ HMRC has also recently updated its list of FAQs from employers and payroll professionals relating to the operation of RTI.

A recent poll of 1,700 small businesses by the Federation of Small Businesses, however, found that only 16% of respondents were fully aware of RTI, and that 25% ‘had never heard of it’.

Issue: 1147
Categories: News , Employment taxes