HMRC highlights the importance of data accuracy for RTI submissions
HMRC has released updated information in time for payroll year end which highlights the importance of data accuracy as well as providing tips on how to avoid duplicate employment records.
Since HMRC first announced Real Time Information (RTI) IRIS has been stressing the importance of data accuracy. This was not only vital in ensuring a smooth transition to RTI, but is equally important in making sure your business remains compliant going forward.
In the announcement HMRC stressed that if you have either the wrong information in your payroll, or your payroll information doesn’t match the data held by HMRC, it could result in your business being issued incorrect tax codes to current and former employees. This could also lead to the charge calculated by HMRC not matching the amount you believe to be correctly due.
The full announcement, including information on avoiding duplicate or incorrect submissions can be found on the HMRC website.
Are you still struggling to comply with RTI? IRIS has a full range of RTI compliant payroll solutions, suitable for any size of business. Find out more about how IRIS can help your business achieve compliance.