Real Time Information - A Reminder

At the start of November, the Armstrong Watson Payroll Bureau joined the RTI pilot and started filing payroll returns for a few selected client payrolls with both weekly and monthly pay cycles. In addition, the Armstrong Watson payroll also entered the pilot.

To remind you, all business’s (with one or two exceptions) will be expected to report payroll data to HMRC under RTI from April 2013. Submissions will have to be electronic and a Full Payment Summary (FPS) file will have to be transmitted on or before each pay day. A further file, an Employers Payment Summary (EPS), will have to be transmitted each pay period to advise HMRC of any PAYE amendments such as SMP reclaims. Failure to comply will result in possible penalties, although, for 2013/14, it has been confirmed that penalties for RTI will be ‘relaxed’, and that Employers will receive letters advising them that they have not complied with the legislation and that penalties could have been levied.

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