PAYE is changing. About Real Time Information (RTI)
Please ensure that you do not send submissions for 2013/14 before 6 April as HMRC can’t accept them before this date. Any employers who run their payroll before 6 April for paydays on or around 6 April, should make their first real time submission on their next employee payday. If customers do submit before 6 April then they will get what’s referred to as a ‘namespace error’.
On 6 April HMRC is introducing a new way of reporting PAYE: Real Time Information (RTI).RTI is being introduced to improve the operation of PAYE, making it easier for you, the employer, to operate PAYE. Employees will receive the information more quickly and it will help support the introduction of Universal Credits.
The RTI Data Validator will check that there are no errors in the employee data you hold which will cause an issue with your RTI submissions. The RTI Data Validator is available for Opera 3 and Opera II Payroll customers for £100 plus VAT. Complete the order form and send it to your Pegasus Partner for processing.
Guidance on when employers should submit a Full Payment Submission for payrolls run around the 6 April 2013
Take 10 minutes to watch the Pegasus RTI overview delivered by a Product Specialist.
Download our free PAYE Real Time Information Guide to Understanding to find out more and how you can get read
The Pegasus Product Specialists are hosting a number of webinars throughout March on implementing RTI, Pensions Auto Enrolment and Payroll End of Year in Opera 3 and Opera II. View the dates and register here.
All Pegasus payroll solutions* have HMRC RTI and PAYE Recognition 2013/14.
"Real Time Information means that employers and pension providers will tell HMRC about PAYE payments at the time they are made as part of their payroll process. Payroll software will collect the necessary information and send it to HMRC online."
HM Revenue & Customs
RTI will ensure that the PAYE system meets the needs of the 21st century and will make it easier for employers, pension providers and HMRC to administer PAYE. Under RTI, employers and pension providers will tell HMRC about PAYE payments at the time they are made - as opposed to how it is done today, at the end of the financial year.
With the forthcoming HMRC RTI system, employers will be required to send data about PAYE, NIC and student loans every time they pay an employee, rather than just once a year with the end-of-year return. Payroll software will collect the necessary information and send it to HMRC online. All Pegasus payroll solutions* will be ready for RTI in February 2013.
HMRC regularly update their
*Opera 3, Opera II and Capital Gold Payroll