Manchester based Practice, MCC Accountants, are preparing to remind employers that from 6 April 2013, they will be obliged to report PAYE information to HMRC in ‘real time’. What this will entail for employers (or their accountant, book-keeper or payroll bureau) is the sending of details to HMRC every time they pay an employee, at the time of payment. In addition, this will involve the use of payroll software, sending this information electronically as part of their routine payroll process.
MCC’s advice to employers is to ‘be prepared’, in order that any potential issues with filing be dealt with immediately, avoiding unnecessary upheaval in the transitional period. Key areas of focus should be; holding up-to-date information about all employees (including casual and temporary workers), confirming that payroll software used is RTI compliant and ensuring that end of year returns (P14s and P35) for 2012/13 are completed by 19 May 2013 to avoid penalties.
Commenting on the forthcoming requirements, Senior Accountant at MCC, Robert Flint said, “Being fully prepared for this process is very important in order to satisfy compliance regulations. In the past, it was possible to correct information on an on-going basis, but going forward, filing will be rejected if accurate information is not present.”