The HMRC is well known for making constant changes to the rules and regulations surrounding payroll and all things relating to the various taxes and how to pay them. This can be very demanding for small businesses, especially, to keep pace with.
However, major changes planned from April 2013, called RTI, are guaranteed to have a particularly big impact on all businesses.
So what is RTI? It stands for Real Time Information, and it means that from 2013, all companies will have to submit a payroll return at the end of each calendar month. And, what’s more, this has to be done before you pay your staff so that HMRC knows in advance how much you need to pay them each month for your PAYE.
If you think you need some help with this, then our outsourced payroll service could be just what you need. Click here to get in touch.