The July 2015 Budget confirms importance of RTI
The announcements made by the Chancellor in the budget of July 2015 confirmed the Government’s intention to put work at the centre of welfare and social protection. The Budget’s emphasis on supporting claimants in work means that PAYE and RTI (real time information) remains perhaps the single most important public policy and tax reform of recent years because employers’ and HMRC’s reporting and management of PAYE, through the RTI SYSTEM determines the level of a claimant’s entitlement to benefits through the Department of Work and Pensions.
The shift to Universal Credit, which aims to ensure that benefits should only top up a claimant’s earnings from the workplace and not provide an alternative to work is an important element of payroll, as it relies on RTI earnings data reported by employers to calculate every month what additional payments need to be made to claimants.
If You Need Help with RTI, Contact Us
Although the budget focused on Universal Credit, the benefits associated with it and the introduction of a National Living Wage, the fact that the whole system relies on RTI shows how important RTI is when it comes to payroll.
RTI has been with us since April 2014, and ensuring your payroll is compliant can be time consuming. If you need help with your RTI Payroll, contact us or call us on 0121 422 0550 for an initial free, no obligation chat.