Real Time Information – relaxation of reporting requirements

HMRC recently announced that for smaller businesses, the relaxation of PAYE reporting requirements has been extended to April 2014. This deadline has been extended after many businesses were struggling to implement the new system in time for the original deadline of April 2013.

Despite the extension of the deadline, small businesses are still required to report PAYE in ‘real time information’ at least once a month until April 2014.

The extension applies to businesses with fewer than 50 employees and it is hoped that these businesses will use the extra time to ensure they are ready to report in Real Time Information from April 2014. From this date, penalties will be in force and HMRC has a good track record of collecting penalties in these cash-strapped times!

To discuss your Real Time Information requirements and for more information, contact our payroll manager Helen Sewell on [email protected] or call Helen on 01527 558539.

Curo Chartered Accountants, ‘advising with clarity’

June 2013