Efficient Accounting

Technology with
professional support

Enter Cloud

Existing Clients

Secure access to your
documents and data

Secure Login Fee Payment

James de Frias

Providing quality support
in a timely manner

Our Services

Communication /

PhoneEmailMap

Get In touch

Cloud Solutions

Client Login

Services

Contact

 

RTI Relaxation Extended

Newsletter issue - July 2013.

The temporary relaxation of the RTI reporting requirements for small employers has been extended to 5 April 2014. It was due to apply only until 5 October 2013.

Under RTI you are supposed to send a full payment submission (FPS) report to HMRC every time you pay employees, on or before the date of payment. This could mean sending a FPS every week, or even every day if you pay some casuals daily.

The relaxation applies to employers with fewer than 50 employees who pay staff weekly, or more frequently, but who run their payroll once a month. These employers can submit their full payment submission (FPS) at the time of the payroll run. However, the FPS must reach HMRC by the end of the tax month (5th).

The Taxman's own figures show that one in six payments under RTI has been reported using the current relaxation. In spite of this strong evidence that the reporting relaxation is needed, HMRC has insisted that all employers will be required to make RTI reports on or before each payment day from 6 April 2014.

If you have still not sent any reports under RTI, you will shortly receive a letter from HMRC and possibly an estimated tax demand. Ask us for advice before paying any tax demanded!

RECEIVE OUR NEWSLETTER IN YOUR INBOX

Newsletter

BOOK A FREE, NO OBLIGATION QUOTATION

Receive a competitive fixed quote normally provided at the meeting for your consideration

Book a Free Consultation