The July 2015 Budget confirmed the importance of RTI
The announcements made by the Chancellor in the budget of July 2015 confirmed the Government’s intention to put work at the centre of welfare and social protection. The Budget’s emphasis, that year, on supporting claimants in work meant that PAYE and RTI (real time information) remain perhaps the single most important public policy and tax reform of those years because employers and HMRC’s reporting and management of PAYE, through the RTI SYSTEM determined the level of a claimant’s entitlement to benefits through the Department of Work and Pensions.
The shift to Universal Credit, which aims to ensure that benefits should only top up a claimant’s earnings from the workplace and not provide an alternative to work is an important element of payroll, as it relies on RTI earnings data reported by employers to calculate every month what additional payments need to be made to claimants.
If You Need Help with RTI, Contact Us
Although the 2015 budget focused on Universal Credit, the benefits associated with it and the introduction of a National Living Wage, the fact that the whole system relied on RTI shows how important RTI is when it comes to payroll. And this hasn’t changed in 2023.
RTI has been with us since April 2014, and ensuring your payroll is compliant can be time consuming. If you need help with your RTI Payroll, contact us or call us on 0121 422 0550 for an initial free, no obligation chat.