Have you seen the latest RTI announcement from HMRC?
HMRC have recently published an announcement addressing the issue of reconciling the difference between the tax businesses think they owe and the tax HMRC say is due. This seems to have been somewhat of an ongoing problem since the introduction of RTI earlier this year.
The introduction of RTI meant that businesses are now required to submit PAYE data to HMRC each time employees are paid, rather than annually at year end. Most feedback we have received is that with RTI compliant payroll software in place, submitting data in real time is not an issue.
In HMRC’s announcement regarding the reconciliation of PAYE charges they give no explanation for why this issue has occurred but state that they have set up a “dedicated team to identify the cause of these discrepancies”.
By finding out what has caused the discrepancies HMRC hope to “understand the issue in greater depth, and take the steps necessary to prevent them arising in the first place”.
Are you still struggling to make the switch to RTI? Why not look at our full range of RTI payroll software and see which option is best for you?