HMRC PAYE Real Time Information (RTI) continues to go well with over 1.6 million PAYE schemes successfully reporting PAYE information in real time. Following feedback from stakeholders, we would seek to extend the reporting relaxation for smaller businesses to 5th April 2014 to tie in with the full tax year.
We can now confirm that the reporting extension has now been agreed and this relaxation will remain in place until 5th April 2014. Under this relaxation, employers with fewer than 50 employees who pay their employees monthly or more frequently are still required to report through the new system, but are able to do so once a month (but no later than the end of the tax month (5th), rather than each time they pay their employees.
Liquid Accounts would advise that all its customers using Liquid Payroll software use RTI good working practice in the meantime to help alleviate a backlog once it becomes a legal requirement. For more information please contact Liquid Accounts on 0845 450 7304 or email firstname.lastname@example.org.