HMRC relaxes RTI reporting rules for smaller business…temporarily
If your business employs 50 or less employees then HMRC has temporarily relaxed the rules on RTI (Real Time Information) reporting.
After receiving feedback from a variety of membership organisations the tax man has recognised that businesses who pay weekly or more frequently and run payroll monthly need longer to set up working processes to cope with the new requirements.
Qualifying businesses can send information by the date of their regular payroll, but no later than the end of the tax month (the 5th of the month) until 5 October 2013.
After that date companies will need to send details to HMRC every time they pay an employee, at the time they pay them and use payroll software to send this information electronically as part of their routine payroll process.
If you have any questions or queries about RTI then get in touch with us today. You can email us at firstname.lastname@example.org or call 01384 235549.
Lewis Smith & Co. – Accountants for Dudley businesses.