RTI –Are we ready?

HM Revenue & Customs says the programme is on track and “going well” but there is concern that many businesses are either unaware or are not prepared for the upheaval and that there will be more than the usual teething problems associated with major data changes.

The introduction of Real Time Information in April means every employer will have to provide more information about tax and National Insurance deductions. They will have to send details to HMRC every time they pay an employee at the time any payment is made.

A Federation of Small Businesses survey of 1,700 members showed a quarter did not know about the changes and only 16% were prepared.