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Explore RTI, which is an HMRC Real Time Information initiative! It requires employers to provide an electronic data feed directly to HMRC for each payroll run.
RTI is the HMRC Real Time Information initiative. It requires employers to provide an electronic data feed directly to HMRC for each payroll run. Using RTI, employers and pension providers will tell HMRC about tax, National Insurance contributions (NICs) and other deductions when or before the payments are made, instead of waiting until after the end of the tax year.
RTI will:
Employers and pension providers will send this information to HMRC online for payments made to all their employees including those paid below the National Insurance Lower Earnings Limit (LEL).
More information is available under http://www.hmrc.gov.uk/rti/
By April 2013 almost all employers and pension providers must be reporting their payroll information to HM Revenue & Customs (HMRC) on or before every payday.
RTI means that earnings and deductions are submitted weekly or even by payroll run instead of annually.
Current HMRC reporting is once yearly by P14 & P35 submissions providing both total relevant earnings and deductions to HMRC both in detail and summary formats.
The following inbound/outbound interfaces are unaffected
Below lists the interfaces to HMRC
It is to allow HMRC to match their records with the employer records and if necessary update their records. This is the first stage of RTI but the intention is that once the EAS has been accepted employers will not need to submit this again.
It is employee payment information that is sent to HMRC. For each pay run, this data needs to be sent to the HMRC along with the BACS Payment. Note: BACS payment file also needs to be adjusted for RTI process.
It is used in pay periods when no employees have been paid or when the employer needs to report a reduction in the amount they will pay over to HMRC. This is to report a reduction in the amount the employers pay to HMRC or if employers haven’t paid any employees in a pay period.
Employer can verify the NI number given by the employee. HMRC’s matching of data sent to a particular employee will be dependent on the NI number, so it will be crucial for the employer to keep accurate data.
It is the employer can verify the NI number given by an employee.
Also, the year end report to the PAYE (P60) is unaltered. Currently via Oracle delivered P14/60 process, the year end data can be printed on the HMRC template.
It includes, the deployment of RTI related bundle/POC delivered by Oracle.
Map the current system to the RTI process.
Identify potential gap and do the fit gap analysis.
Develop necessary technical components
End to End process testing.
Performance testing: This is very critical for mission critical application like payroll.
Production Deployment
Warranty support includes 30 days of production support cover
Additional long term support shall also be provided
The whole implementation can be carried out in 3 months.
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