Update on RTI – Real Time Information

The last 2 months have been very busy at JLP with Year End and the start of RTI. We have taken on lots of new accounts, many of which resulted in businesses coming up against problems with RTI and not being able to cope with the added time burden it entails. But rest assured, we’re fully up to speed and have plenty more capacity for any other companies out there struggling with RTI. We’ve even helped out some of our competitors that have struggled!

A quick note for companies running payroll in-house, some of whom have contacted me to ask: What is EPS!!! This is what you have to process every month should you be altering the payment you are making the HMRC by the 19th of each month. This could be changed for many reasons such as claiming back SSP or SMP, for example, or even additional payments for CIS. If this is not submitted and your payment made to HMRC is lower than you have reported through RTI, then HMRC will be chasing you for the balance. If you had already submitted your EPS, then HMRC would know the reasons behind it.

I have found over the past few weeks that companies are starting to question themselves over the fact that although they have always been confident in processing their payroll in-house, they are now finding it increasingly difficult to satisfy HMRC’s requirements. This is often simply because they have not submitted all the information that RTI has required. I am of the opinion that sometimes we just have to leave some things to the experts!!!!

On a separate note – lots of our clients are receiving new tax codes from HMRC that are incorrect. If your tax code suddenly becomes higher than normal, please bear in mind that if you use all of your tax allowance and you don’t have benefits in kind that could have been overcharged (as you may have changed your company car reducing your liability, for example), then this could be an error. This will then result in you owing tax back to HMRC. Best advice is always phone HMRC to check if you have any doubts.

For more information, please contact us.

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