Real Time Information - New Payroll regulation being introduced from April 2013

What is RTI?

Real Time Information (RTI) is being introduced to improve the operation of Pay As You Earn (PAYE). It is probably the biggest change to hit PAYE since it was first introduced in 1944 and the impacts are going to be significant.

To guide you through this challenging time, Advanced has introduced a Real-Time Information website to help you understand the new requirements, feel assured that you know the next steps and how to implement the changes with minimal impact on the running of your payroll department.

From April 2013, all but a handful of UK employers and pension providers will have to electronically submit information to the HMRC about PAYE deductions as they are made, instead of annually. The RTI pilot is already in progress, running from 1 April 2012 until 31 March 2013, with many obstacles and challenges expected along the way.

What are the likely impacts and benefits?

What does RTI involve? What is required from employers and what are the likely impacts?  What are the concerns and benefits of the RTI pilot?

Visit our Real-Time Information website to access advice, further reading, events, news updates and much more.

Tips for making RTI work

Organisations that embark on RTI (whether they are involved in the pilot or are waiting for the compulsory RTI go-live) need to be prepared for involvement. The following five top tips will help organisations to be as prepared as possible.

• Prepare for involvement carefully – What additional information do you need to collect? Consider who from the company needs to be involved with making RTI work and if involved in the pilot, how do you want it to work for you?
• Work closely with HMRC and don’t be afraid to ask questions.
• If getting involved in the pilot, make the most of the resources available by attending RTI workshops, webinars and conferences.
• Remain close to your payroll software provider. They are there to support you every step of the way.
• Spend the time and effort cleansing your employee data. The time spent will be invaluable in the long run.

Download the White paper: Real Time Information – the good, the bad and the uncertainties