Frequently asked questions about RTI
As an employer you will have heard of Real Time Information (RTI) by now. There are lots of queries surrounding this new procedure and so Kerrie Lucas, Prime’s Payroll Manager has listed a handful of questions that she is being asked now that this has become mandatory…
Q = Is RTI compulsory?
A = Yes, for all employers from April 2013 unless you have more than 5000 employees.
Q = I would like to process directors' pay quarterly. Anything in RTI which prevents this?
A = No, as long as the salary is only paid quarterly to the Director.
Q = For new Employers, currently it can take some time to get HMRC to issue a PAYE reference. Surely this will cause big problems under RTI?
A = Yes it can if using the Employer Helpline, as it can take up to 4 weeks, however, if you apply online it should only take 7-10 days,
Q = Do Newsagents have to do live reporting for paperkids.
A = If registered for PAYE, you need to report all employees including those earning below the Lower Earning Limit (even paper kids!).
Q = Do we still send our P46s/P45s to HMRC for new starters?
A = No. Starter and leaver information will be reported on the FPS. Employers will still give employees a P45 form on leaving but won’t send it to HMRC.
If you have a question not covered above, please contact Kerrie.
If you are finding RTI too painful, Prime Chartered Accountants offer a complete payroll solution and as a registered BACS Bureau will pay HMRC and your employees on your behalf. For a no obligation quote please contact our Payroll Manager, Kerrie Lucas, on 02476 518 555 or email [email protected]