Real Time Information (RTI) – PAYE update
HMRC has (finally) admitted that the introduction of RTI may lead to more costs and problems for business than previously advised. HMRC said it would monitor the possible burdens and consider whether any improvements are needed during the next few months as businesses get to grips with the new regulations. HMRC has expressed gratitude to employers that had provided feedback about the impact of the new requirements. HMRC acknowledges that its estimates on time and costs assume employers currently operate a standard approach to PAYE and that its figures may not take into account bespoke arrangements that employers have put in place to suit their particular organisations.
However, HMRC will not be in a position to update their analysis of the impacts on business until summer 2013, once the pilot is complete and further evidence on the extent of bespoke arrangements can be gathered in the early stages of the main roll-out.
Again I think – watch this space.
Date: 11th April, 2013
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