Spotlight to shine on RTI
Real Time Information (RTI) payroll reporting is to undergo an HM Revenue & Customs review, two years after the system was introduced.
In October, the Office of Tax Simplification (OTS) published a report into the competitiveness of UK tax administration, in which it said it would like to see a post-implementation review of RTI, which should look at whether “on or before” reporting was necessary to operate the Universal Credit system for working people claiming the benefit and whether monthly reporting could achieve the same outcome.
Jeremy Sherwood, head of the OTS, announced on 3 December that HMRC had accepted the proposal for a post implementation review of RTI and “to improve assistance to businesses with greater use of email and better telephone services with appropriately trained staff.”
He said the review would be carried out be HMRC but no further details were then available.
At Moore Thompson, we provide a cost-effective payroll service that is fully equipped to deal with RTI as it continues to evolve, ensuring that employers stay fully compliant with HMRC requirements and avoid the potential for penalties. For more information on how we can help your business meet the requirements of RTI, please contact us.