Under Real Time Information, employers or their agents are required to make regular payroll submissions for each pay period during the year, detailing payments and deductions made from employees each time they are paid.
Read this fact sheet Payroll Real Time Information to find out more about the HMRC’s requirements regarding your payroll and Real Time Information:-
An overview of Real Time Information
- Full payment submissions
- Employer payment summary
- Timing of payments to HMRC
- Year-end procedures
Real Time Information - other considerations
- Payments which are impractical to report of on or before real time submission
- Penalties for non-compliance
Operating your payroll under RTI can be time-consuming and complex. If you are considering outsourcing your payroll function, please do get in touch with the DRG Chartered Accountants payroll team.
DISCLAIMER: This information is for guidance only, and professional advice should be obtained before acting on any information contained herein. We will not accept any responsibility for loss to any person as a result of action taken or refrained from in consequence of the contents of this publication.