RTI Needs You (Still)!Friday, February 24th, 2012
HMRC’s Weekly Employer Update is an informal presentation based upon employer feedback and aimed at working with employers. Their 100th Update advised employers that there is still time to be part of the RTI pilot, for the tranche of pilot employers entering from November 2012. The benefits of entering before March 2013 include:
- No end-of year reporting and filing obligations under the current method (i.e. P14s and P35)
- No in-year filing obligations once the employer becomes live and is submitting data in real time (i.e. P45 and P46 reporting)
- Increased levels of support from HMRC during the move to RTI
- No liability to new penalties being introduced as result of RTI. This will allow employers the opportunity to adapt their working practices and become familiar with RTI before RTI penalty legislation is implemented
Employers are advised to contact their payroll software provider in the first instance to see if they are participating and to let them know that they would like to join the pilot. The provider will then liaise with HMRC’s RTI team who, in turn, will contact the employer for further discussions.
Seldom do we get the opportunity to work with HMRC on such a close basis and be part of a major initiative like RTI. Of course, involvement in the pilot is dependent on your payroll software / provider being ‘RTI-ready’, therefore, this is the first consideration.
I think it is a great opportunity – being one of the first to experience the benefits of RTI and also, being part of a pilot project that will help the whole payroll profession. Go for it!!
- Businesslink – HMRC Weekly Employer Update 03 February 2012