Business News 08 Mar 2013

Employers urged to 'get ready' for Real Time Information

HM Revenue & Customs (HMRC) is urging employers to make sure they are prepared for the introduction of the new Pay As You Earn (PAYE) system, known as Real Time Information, or RTI.

The new regime, which has been billed as the biggest shake-up of PAYE in nearly 70 years, comes into effect on 6 April 2013.

RTI will require most employers to move to a new way of reporting the payments and deductions they have made under PAYE, which involves reporting to HMRC every time they pay their employees, rather than on an annual basis.

Read more at http://tinyurl.com/amt86sw