News & Updates

RTI (Real Time Information) Pay As You Earn

HMRC is introducing a new way of reporting PAYE – called Real Time Information, or RTI. From April 2013, employers will be legally required to report PAYE in real time. This means that information about all PAYE payments needs to be submitted to HMRC online each time a payment is made as part of the payroll process, rather than at the end of the year as they are now.

HMRC has its eyes on you

The new HMRC advert depicts piercing eyes staring out along with the words: “we’re closing in on undeclared income”. We are reminded of the book cover for ‘The Hills Have Eyes’ and, indeed, the poster for ‘The Blair Witch Project’, both of which used similar design to scare the living daylights out of us. So now HMRC and M&C Saatchi, the advertising agency involved, feel that it is appropriate to scare the taxpayers into submission – of their profits. Tony Margaritelli, chair, ICPA