So, how does this affect you?
Real Time Information (RTI) will be introduced from April 2013 and by October 2013 it will be mandatory for all employers to process PAYE data using the new system. It requires that PAYE information is sent to HMRC online every time a payment is made, NOT just at year-end.
First of all, if you run your own payroll, do you use payroll software to calculate and submit your employee’s information?
If you don't, you need either commercial payroll software (like Sage 50 Payroll), a payroll service provider such as an accountant or payroll bureau who can do it for you, or you can use HMRC's free basic tools.
If you want to do payroll yourself and would like to have a free no obligation look at Sage Payroll, let me know. But you should know that Sage Payroll is now available RTI ready.
New Sage 50 Payroll RTI Edition has been designed to ensure the easiest transition to RTI possible, with a number of new features to help you get prepared for this important legislation change. New features include:
· New RTI Centre - one-stop-shop for help and support to prepare for RTI
· New RTI Centre Health Check - checks your data, spots errors and provides solutions
· New RTI Submissions Log - enables you to keep track of internet submissions to HMRC
· New Report Browser - clear signposting, with easy to understand report descriptions
About Sage 50 Payroll
Award-winning Sage payroll software is accredited by HM Revenue & Customs (HMRC) and meets the latest legislation requirements for accurate calculations of tax and National Insurance. It’s easy to use and helps businesses pay the right people the right amount of money on the right day.
Sage 50 Payroll is ideal for small to growing businesses that need to manage the payroll for 1 to 50 employees. It helps pay people quickly and accurately, automatically working out payments and deductions including tax, National Insurance, pensions and sick pay.
Sage has a website to keep you up-to-date on RTI. Please see: http://sage-exchange.co.uk/tags/rti
