HMRC eases RTI reporting requirements for smaller businesses
HMRC has temporarily relaxed the Real Time Information (RTI) reporting arrangements for businesses with fewer than 50 employees.
The new RTI regime is being phased in from April, although ahead of its introduction, HMRC acknowledged that certain employers may need longer to comply with the new requirements.
As a result, until 5 October 2013 employers with fewer than 50 employees who pay their staff weekly or more regularly and find it difficult to report at the time of payment may now send information by the date of their regular payroll, but no later than the end of the tax month.
Businesses employing more than 5,000 people will arrange a ‘migration date’ between April and October with HMRC. The scheme will be mandatory for all employers from October 2013.
The Revenue will continue to assess the impact of RTI on the smallest businesses throughout the summer.