Real Time Information - RTI
RTI (Real Time Information) is a new payroll reporting system to be introduced to all employers by HMRC in April 2013 and involves the submission of employee pay related information at the time of payment rather than at year end. HMRC's principle aim of the move to RTI is to support the introduction of Universal Credits in October 2013.
Moneysoft has been working closely with HMRC on RTI - our Payroll Manager software is 'RTI-ready', and is fully recognised by HMRC for the online submission of RTI returns. Please see our RTI FAQs for more information.
When did the changes happen?
Moneysoft has been part of the HMRC RTI pilot scheme since May 2012, so we already had a large number of users submitting RTI returns via our Payroll Manager software before April 2013. Tens of thousands of our users have now successfully submitted their first RTI returns to HMRC since it became mandatory in April.
Getting ready for RTI - existing users
All of our Payroll Manager products are recognised by HMRC as being 'RTI-ready' and have incorporated the new RTI features for all users from April 2013. There is no need to re-enter your data, and no need to look for new RTI payroll software! You can continue to use Payroll Manager to calculate your employees pay in the same way that you do now, the only difference will be that you click to file your returns online to HMRC every pay period, instead of waiting until the year end.
HMRC have introduced a few extra data items that will be required for RTI filing, so in order to help make your transition to RTI a smooth one, Moneysoft have produced a number of guides and videos to help you get your payroll data complete and up to date. Please see our guides RTI -an Overview and Getting ready for RTI - Data validation to see how you can send your RTI returns.
Please download a free trial of our Payroll Manager software and see for yourself how simple the program is to set up and use to process your RTI returns.
Moneysoft have developed additional 'Agent' features (e.g bulk-filing of RTI returns) which feature in the multi-company versions of our software (Payroll Manager 100 and Payroll Manager 250) designed to help with the management of the RTI process. Please see our RTI Batch processor video.