HMRC announced last week that over one million employer PAYE schemes have started to report PAYE in real time since it was launched in April 2013.
The new PAYE reporting system, known as Real Time Information (RTI), which started on 6 April 2013, states that employers report PAYE in real time from their first pay day on or after 6 April each time they pay their employees, rather than yearly.
Ruth Owen, HMRC’s Director General Personal Tax, said:
“RTI is bringing PAYE into the 21st century, and it is amazing that we have reached the one million mark in less than a month. This is at the top end of our expectations. However, we’re not complacent and are carefully monitoring submissions, but so far things are going well.”
She continued:
“We have had lots of feedback from many employers saying that RTI is easy to use. We know it will take time before all employers adapt to RTI, but any who haven’t started reporting in real time should do so quickly. All the help they need is on HMRC’s website.”
