Joining RTI early!
The submission of RTI data is to be made mandatory for all small and medium sized companies ( up to 5,000 employees ) from April 2013.
As the initial stages of the RTI pilot scheme have proved to be so successful, HMRC have decided to extend the scope of the next phase of the pilot by offering an additional number of volunteer employers / agents the opportunity to start submitting their RTI returns from November or December this year, before RTI becomes mandatory in April 2013. This stage of the pilot is also sometimes referred to as 'early-adoption', as all participants will remain on the RTI scheme permanently from this point.
What are the advantages of joining the RTI scheme in November / December 2012?
All small and medium sized business in the UK will be mandated to submit their RTI returns from April 2013, so it makes sense to prepare your business for these changes as soon as possible. Taking control and adopting RTI early will enable you to understand what it means to you and your payroll practices, ensuring that employees and HMRC are paid on time, whilst also having access to the help and support your business may need to transition smoothly into the RTI world of Payroll. Adopting RTI early will also simplify some of your payroll procedures as you will no longer need to submit P35 and P14 end of year returns, or P45/P46 returns for joiners.
How will my Moneysoft Payroll Manager software deal with these changes?
Your existing Moneysoft Payroll Manager program will be updated to cater for these changes, so you will not require additional software. From November onwards your program will have the relevant functionality to allow you to submit RTI returns to HMRC. Some Moneysoft users have already submitted RTI returns as part of the early stages of the pilot.
Am I eligible ?
There are a few restrictions - HMRC have requested that volunteer employers have only ONE PAYE scheme reference per company, and that they are NOT involved with the Construction Industry Scheme (either as a contractor or subcontractor). Employers that are involved in the CIS scheme will still be able to submit RTI returns from April 2013, but they are not able to join before that date.
I wish to volunteer for the November / December 2012 pilot - what do I do next?
EMPLOYERSIf you are an employer and wish to volunteer your own company for the November stage of the RTI pilot, then please send an email to firstname.lastname@example.org with the following details:
- Employer (Company) Name
- Employer PAYE reference (e.g. 834 / M6115 )
- Employer Accounts Office Reference ( e.g. 473PQ11214673 )
- Your Contact Name
- Your Contact Phone Number
- You also have the option of joining the scheme in either November or December 2012, so please indicate your preference.
Please forward your details to us by Thursday 23rd August 2012 . We will forward your details to HMRC who will contact you in due course.
AGENTS / ACCOUNTANTS / PAYROLL BUREAUX
If you are an agent / bureaux /accountant and wish to volunteer one or more of your clients for the November stage of the RTI pilot, then please complete the spreadsheet below giving details of your volunteer clients.
Please note that there is no limit to the number of clients that you can propose for the pilot scheme, although you must seek their permission before doing so. Please attach your completed spreadsheet to an email, and send it to email@example.com before 5pm on Thursday 23rd August 2012. We will forward your details to HMRC who will contact you in due course.
Thank you - we look forward to participating in the November / December stages of the pilot with you.