The British Woodworking Federation Group

Are you ready for the April 2013 PAYE changes?

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Posted By
site_admin
07/12/2012

BWF members are reminded that, from April 2013, employers will be legally required to report PAYE in real time. This is the biggest change to PAYE in 60 years and means that information about all PAYE payments needs to be submitted to HMRC online each time a payment is made as part of the payroll process, rather than at the end of the year as they are now.

Are you ready for the April 2013 PAYE changes?The new way of reporting is called Real Time Information, or RTI, and the change has been made in order to gather regular information about employees, to dramatically simplify reporting new starters and leavers and to make the payroll process easier for business. It will also support the payment of Universal Credits.

But with the changes only 4 months away, there are concerns that the government is struggling to communicate them to small firms. A recent snap poll of 1,700 small firms found that only 16 per cent of respondents were fully aware of the change to RTI, and a quarter of those responding had never heard of it.

You can find out more about the changes here:

www.hmrc.gov.uk/rti/index.htm

BWF members are also reminded that they can call the BWF member helpline for advice on tax and employment issues

Posted By
site_admin
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