Preparing to operate PAYE in real time
From 6 April 2013 employers started reporting PAYE information to HM Revenue & Customs (HMRC) in real time. You may see this referred to as Real Time Information - or RTI.
This means that employers (or their accountant, bookkeeper or payroll bureau) have to:
•send details to HMRC every time they pay an employee, at the time they pay them
•use payroll software to send this information electronically as part of their routine payroll process
You need to take several actions to prepare for operating PAYE in real time, which are set out below.
■ Get/update your software or use a payroll provider
■ Check employee data is correct
■ Check you are registered for PAYE Online
■ Include new information in your payroll records
■ Action if you pay your employees via Bacs
■ Be ready to update HMRC with your latest payroll data
■ Start reporting your payroll information
■ Know where to go for extra help
A/C Bookwise can provide a full payroll service. We will provide you with pay slips and inform you how much to pay to the Revenue in relation to PAYE and NIC.
Our software meets the latest government requirements to file online through RTI (Real Time Information).
A/C Bookwise was part of the initial HMRC RTI pilot scheme.
"We always thought we should use traditional large accountancy companies for the best service but we couldn’t have been more wrong. Using A/C Bookwise has shown us we can get the same level of service without the large fees."
Derek Vaughan Rewards Direct