Real Time Information (RTI)

RTI was introduced by HMRC to improve and simplify the method of reporting PAYE. The process remains the same but now each time you pay your employees you will need to submit PAYE and NI information to HMRC. However, this needs to be received by the HMRC before the day you pay your employees. To submit this information, you will need to file a Full Payment Submission (FPS).

If you don’t need to pay any employees in a particular tax month, then you must notify HMRC by sending an Employer Payment Summary (EPS) by the 19th of the following tax month. This will ensure that HMRC don’t incorrectly send a penalty notice because they were expecting an FPS.

You will incur penalties from HMRC if you do not submit an FPS or EPS.

The PAYE process under RTI can be arduous, time consuming and complicated for some businesses. Please contact us so we can advise you and assist on any issues you may have.

VAT

VAT is a complex area and one which affects many businesses. Getting it wrong can be expensive. We can provide relevant VAT advice needed for your organisation, so that you can meet your obligations. We can assess if you are operating on the best scheme for your business. For example, if your customers are slow payers the Cash Accounting Scheme may suit you better.

Auto Enrolment

Auto Enrolment is compulsory for anyone who employs workers. We have a dedicated person who is solely responsible for the implementation of your Auto Enrolment Compliant Pension Scheme. We also handle the ongoing administration which includes your Tri-Annual Review and subsequent declarations to the Pension Regulator.

For more information, please contact us or call us on 0808 1644 222.