HMRC is urging employers who have failed to follow the new real time information (RTI) process to urgently get their act together as one in ten companies fail to sign up for the new PAYE reporting system. If you need assistance with reporting in real time, please contact us for some free advice. The campaign is targeted at 167,000 employers who have already missed one or more deadlines for reporting PAYE and who have been sent a letter by the taxman urging them to do so immediately. HMRC says 1.6m employer PAYE schemes, covering over 40m individual records, are now reporting under RTI following the launch of the new reporting requirements in April this year. Despite a bumpy introduction with various last-minute changes to RTI, including reporting for the smallest businesses and problems with the penalties system, the majority of PAYE employers are now on board. Ruth Owen, HMRC’s director general for personal tax, said: “Over 85% of employers are now reporting PAYE in real time but our records show that 167,000 employers have yet to send us a PAYE submission. Reporting PAYE in real time makes it easier for employers to pay HMRC the right amount and avoid late payments and penalties. Report taken from accountancylive.com
Menu
