PAYE Real Time Information (RTI)

From April 2013, almost all UK businesses must report payments to employees, no matter how small, by a process called Real Time Information (RTI). RTI reports MUST BE MADE either at the time the payment is made, or beforehand. Penalties will be levied by HMRC for mistakes.  The ramifications of this are:

• RTI is an electronic submission process, so all affected business must now keep a computerised payroll system.
• All existing payroll data will need to be validated with HMRC, even if an electronic payroll is already being kept.
• Your employee expenses payment systems must now be provably robust and must link into RTI where necessary, in order to comply with the new RTI rules.
•   A much higher level of diligence regarding operation of your payroll must now be exercised to avoid the HMRC error penalties.

To help you in the potentially very problematic area, Paul Monaghan offers a full advisory service to small and medium sized businesses, up to and including taking on your payroll, in order that your business does not experience disruption or diverted management attention due to the adoption of RTI.

Call 01895-473824 for a preliminary discussion of how we can help tailor a solution to address you RTI needs.

We service clients in the Middlesex, South Buck and West London areas, including: Uxbridge, Hillingdon, Ickenham, Ruislip, Eastcote, Hayes, Harefield, Northwood, Cowley, West Drayton, Denham, Iver, Gerrards Cross Buckinghamshire ....and all surrounding districts.
Call 01895 473 824 for a no-obligation free initial consultation.

We are advisors and consultants offering advice in all tax and accounting matters including: Business Tax, Personal Tax, Individual Taxes, "Self Assessment" tax returns, accounting, payroll, book keeping, bookkeeping, Management Consultancy, Corporation Tax, VAT, PAYE, NIC, CIS, IR35, CT600, Inheritance Tax, IHT, and others.