Is your payroll office ready for RTI?

‘Real Time Information (RTI) is about to become one of the biggest things to hit payroll since the introduction of Pay As You Earn (PAYE).’ That’s according to John Black, RTI specialist at Midland HR, writing on the Fresh Business Thinking website. This fundamental change to how and when employees pay details are sent to HMRC affects all employers and businesses. Rather than an end-of-year P45 submission, employees’ pay details will be sent monthly. All businesses need to be signed up for the new scheme by October of this year. Many businesses have taken part in trials of these changes for the payroll department since April. Feedback so far has been generally positive. Payroll managers are encouraged both to get involved early in the scheme and to speak to their supplier of payroll software. For a clear, comprehensive guide for payroll managers and employees, read the full article at http://www.freshbusinessthinking.com/articles_print.php?CID=1&AID=10775