Real Time Information – Problems with underpaid PAYE
RTI - Real Time Information payroll - has been going since April 2013, and not surprisingly we have heard about a number of companies experiencing problems, and one problem in particular, namely where HMRC have been chasing companies for underpaid PAYE, where the companies believed the underpayment was due to legitimate deductions and did not realise that under RTI rules they now needed to process an EPS (Employment Payment Summary). An EPS is where companies inform the HMRC of any deductions...
P11D – The deadline is rapidly approaching!
The P11D deadline is rapidly approaching. 6th July might seem a long way off, but lots of work is involved prior to this date to make sure all the information we submit is correct. All benefits In Kind have to be declared, i.e. company car and private health medical insurance, to name just two. So don't leave it until the last moment. We can help with all of this, calculate the cost to the company and file the P11Ds for all employees. In reality, the P11D process is a simple one, but it often...
Update on RTI – Real Time Information
The last 2 months have been very busy at JLP with Year End and the start of RTI. We have taken on lots of new accounts, many of which resulted in businesses coming up against problems with RTI and not being able to cope with the added time burden it entails. But rest assured, we're fully up to speed and have plenty more capacity for any other companies out there struggling with RTI. We've even helped out some of our competitors that have struggled! A quick note for companies running payroll...
So what do people think of RTI?
Well we're nearly 3 weeks in to HMRC's new RTI payroll system, and we're delighted to say that our own RTI ready outsourced payroll service has been inundated with lots of new clients who felt they didn't have the time to get to grips with it and run it themselves. But that's just our experience, so we thought we would try and find out a bit more about what the experience companies across the country, especially SMEs, has been with RTI. After all, RTI has been the biggest change to the...
What does the ‘relaxation’ of HMRC’s rules on RTI – Real Time Information – mean?
Some companies have been asking us what the 'relaxation' of RTI rules by HMRC really means and who it affects, so we thought we would clarify things. The relaxation of RTI is for the benefit of employers with fewer than 50 employees, and here's the important bit, who pay employees weekly, or more frequently, but only process their payroll monthly. So, both the number of employees AND the frequency of payment and processing criteria must be fulfilled to qualify for the 6 month relaxation. So,...
