PAYE real time information
Posted: Sat 08 Dec, 2012 8:46 pm
Does anyone know anything about the new way of doing PAYE? Like everyone else, I had a notice from HMRC that I will be required to operate real time reporting, but I can't find any detailed information about this anywhere.
Even asking the staff on the HMRC PAYE helpline don't yet seem to be able to tell me much about this. To date I pay my accountant to prepare wage slips for my staff and he emails them to me and I print them out, but there are delays in the system.
I'm assuming that these reports have to occur during the same day as wages are paid and when allowing for internet outages, etc. Until I know more, I am concerned as to how I can be sure that payments will always be reported to HMRC on time as there are fines for being late.
Considering the fact that govenment has stated that it's policy is to cut the red tape for small businesses and that it wants to enable small businesses to employ more people, it is obvious to me that this new PAYE directive will accomplish the exact opposite.
Even asking the staff on the HMRC PAYE helpline don't yet seem to be able to tell me much about this. To date I pay my accountant to prepare wage slips for my staff and he emails them to me and I print them out, but there are delays in the system.
I'm assuming that these reports have to occur during the same day as wages are paid and when allowing for internet outages, etc. Until I know more, I am concerned as to how I can be sure that payments will always be reported to HMRC on time as there are fines for being late.
Considering the fact that govenment has stated that it's policy is to cut the red tape for small businesses and that it wants to enable small businesses to employ more people, it is obvious to me that this new PAYE directive will accomplish the exact opposite.