Real Time Information was introduced over 2 months ago and complying should be the norm for the majority of businesses now. Recent figures have shown that this may not be the case though.
HMRC released an update yesterday stating that “record numbers of employers” are now reporting PAYE in real time using payroll software. According to HMRC’s figures 83% of small to medium companies (SMEs) and more than 77% of micro employers have already started to comply with the legislation. They go on to say that between 6 April and 5 May they received information about 44.5 million payments made to employees across the UK.
These figures may seem positive, but demonstrate that 17% of SMEs and 23% of micro employers have still not made the switch to RTI. This fits with the announcement we discussed in a post last week about 600,000 PAYE schemes still not being compliant. HMRC have begun to contact the schemes in question and are expected to release an updated figure of non-compliant schemes by the end of the month.
You can read the full HMRC announcement here.
Are you one of the businesses that has still not been able to make the switch to RTI? If you are still struggling to achieve compliance, we have a range of payroll software options which are all RTI ready. If you have fewer than 10 employees, why not see how our free payroll software could help you?
