Another extension for automatic RTI penalties
6 October 2014 was the date set for automatic RTI (Real Time Information) penalties to be issued for failure to comply with filing regulations under the new HMRC arrangements.
Five extra months to get organised
For businesses with fewer than 50 employees the rules have been relaxed again until 6 March 2015, allowing them an extra five months to organise their systems in line with RTI legislation.
Shortly following this new deadline, in April 2015, penalties will also arise automatically for late payments so the spring of next year really is the time for businesses to get their whole payroll operations up to speed.
Does this include your business?
Businesses with less than 10 employees have a little longer. April 16 is the deadline set for them to have to report fully under RTI. For now, HMRC is happy for them to report just by the end of the last pay day in each tax month, giving a little less administration still in the short term.
Figurit align with knowledgeable payroll experts who can assist with RTI reporting and keeping you compliant. Call today to discuss: 020 7376 9333