Most employers with less than 5,000 employees will have completed their Real Time Information (RTI) alignments and will have submitted at least one Full Payment Submission (FPS) to HM Revenue & Customs (HMRC). The deadline for the first Employer Payment Summary (EPS) is approaching on the 19th May, with payment of PAYE and National Insurance Contributions due by the same date, or the 22nd May if the business is paying electronically.
There is conflicting communication about how well the RTI system is coping; depending on the source of the correspondence. Since 6 April over one million PAYE schemes have successfully started to report under the RTI requirements. However HMRC has admitted there is a problem with their Basic PAYE Tools software package, available for employers with nine or less employees. The Basic PAYE Tools give an error message, when employers attempt to make PAYE submissions. A software update will be issued by HMRC at the end of May to correct the problem, in the meantime, employers are advised to process the payroll as normal and submit the information after the update is installed.
The Payroll team at Chiene + Tait will host a live webinar on RTI, entitled, The Story So Far. The webinar will review what’s happened since the introduction of RTI, plus hints and tips from our experiences of working with the system and HMRC.
During the webinar attendees will receive:
- A refresher on RTI requirements,
- Practical tips on dealing with RTI,
- Guidance on changes to payroll processes that may be required.
The payroll Real Time Informatin (RTI) weninar recorded by the Payroll Team can be viewed here.