More than 1.6 million employer PAYE schemes, covering over 40 million individual records, are already reporting in real time since the launch of new reporting requirements in April, and any employers who have failed to follow the new process have been urged to act now by HM Revenue and Customs (HMRC).
Employers or agents (acting on behalf of their clients) who have set up unused PAYE schemes should contact HMRC to close them.
This month, around 167,000 employers who have missed one or more deadlines for reporting PAYE will receive a letter. Employers need to act now and start reporting in real time. If employers have not reported because they don’t pay anyone, the PAYE scheme has closed or it is no longer operating, they still need to let HMRC know by calling our Employer Helpline.
PAYE information reported in real time is already being used by the Department for Work and Pensions (DWP) to calculate Universal Credit amounts paid to people in its pathfinder pilot in the north west of England, ensuring the amount of benefit accurately reflects their level of income.
If you’re struggling with RTI, call us on 01362 696612 to discuss how we can help.