The start of the new tax year will herald in significant changes to the way PAYE is administered.
The big question is: Has your business been paying attention?
On 6 April, HMRC will introduce ‘Real Time Information’ (RTI) meaning that businesses must send PAYE payroll information to HMRC at the same time as they pay an employee.
According to recent statistics a staggering number of small and medium sized businesses are still unaware of this change in reporting and with the date looming, are you prepared for this?
What is RTI and what will it mean for your business?
Simply put, business will have to:
- Send HMRC details EVERYTIME they pay an employee, at the time they pay them
- Use payroll software to send this information electronically as part of a routine payroll process
The current system allows employers to issue PAYE information to HMRC at the Payroll Year End. The new RTI system will require firms to send payroll data to HMRC on or before the date each employee is paid.
What can Livingstones Accountants offer you?
Livingstones are here to provide you with a friendly, efficient and reliable service, seamlessly integrating with your organisation. As a managed RTI payroll service provider we aim to provide a fully managed and tailored service, looking after all aspects of your payroll.
Livingstones Accountants provides a Payroll Service for employers and we can run your payroll for you, either weekly, monthly, four-weekly or any period which you require and at an extremely competitive rate. We have considerable experience in running payrolls and in helping employers fulfil their obligations to their employees and to the Inland Revenue.
How will this benefit me?
The advantages of letting us run your payroll include –
Benefits of outsourcing
- Free up more time to focus on your business
- We’ll keep up with payroll legislation so you don’t have to
- No need to worry about complex pay calculations
- You won’t need regular training or software updates
- We have over 20 years’ experience in the payroll industry
• You will only have to supply your employees’ pay information to us – we do the rest
• We are adept at dealing with the inevitable last minute changes
• We will provide you with regular management reports that enable you to understand the costs of employment to your firm