RTI in simple terms means Real-time information. The RTI is a way of ensuring that pension providers and employers should report the payments they make to the HMRC, immediately. The HMRC is the HMRC revenue and customs authority. (H M revenue and customs) HMRC is the only UK's tax authority. It is always important to meet the requirements for reporting. To avoid getting letters from HMRC. Make sure you report PAYE.
It is important for all employers to make a point of contacting the HMRC employer helpline in the case the PAYE scheme faced closure or is no longer in operation. You can also get to enjoy our cheap PAYE scheme. The reporting process is beneficial to employers. Everyone wants to avoid penalties. To avoid penalties report your PAYE in real-time and get a chance to pay the right amount to the HMRC.
In the case you are an agent and have set up a PAYE scheme to act on behalf of your clients and the PAYE scheme has not been in operation kindly make a point of informing the HMRC to close down the scheme.
There is also an instance where an employer may have to operate a PAYE scheme for benefits and expenses. When faced by such a situation we advise that you make a point of submitting a NIL employer payment summary (EPS) each and every month or contact the HMRC to make a change in the scheme to annual. From there on you will only be required to file a NIL employer payment (EPS) once a year.
In the case the employer is no longer paying anyone or the PAYE is no longer in operation, it is still important to let HMRC (HM Revenue and customs ) know. Contact the HMRC using the provided employer helpline. You can also get cheap set up a PAYE scheme.
The department for work and pensions (DEP) is already using the PAYE information reported to calculate the total universal credit amount paid to people in Northwest of England.
In case you missed one or more deadlines expect to receive a letter from the HMRC. If you just received a letter and would need assistance with your payroll procedures or not sure you should be reporting payments, please make a point of getting in touch . It is important for employers to take the following details into consideration while reporting ;
Name ; please provide official names . Ensure the names are correctly spelt .
D .O.B ( Date of birth ) : Ensure you entered the correct details and used the correct format .
Address ; Ensure your address details are up-to-date . This address is important as it will be used by the HMRC .
Incase you are facing challenges with the RTI system kindly feel free to contact us . Get cheap PAYE scheme services . Have a discussion with us and get required help.
