Real Time Information

What is Real Time Information (RTI)?

It is a system for reporting PAYE and NIC that was phased in by HMRC from April 2013 and is mandatory for all employers.

Operating your Payroll in Real Time

This means that employers or payroll bureaus have to:

• Send details to HMRC every time a payment is made to an employee, but before the payment reaches the employees bank account
• Use payroll software to send this information electronically as part of their routine payroll process

HMRC know exactly what PAYE and NIC payments are due each month and will therefore expect the payments to match.

These submissions have replaced the P35 and P14s at the end of the tax year, and also means no more in-year forms to submit online such as the P46 and P45, as all starter and leaver information is detailed on each payment submission. Click here for more details.