Seminar: Real Time Information is Coming – Are You Ready?
In conjunction with Chartered Accountants Ulster Society, the Northern Ireland Tax Committee is pleased to announce that a free seminar presented by HMRC on the subject of Real Time Information (RTI) will be held on Wednesday 28 November. The seminar is now open for booking and will also be available to be viewed live online.
Attendees will have the opportunity to hear first-hand about the new system of PAYE, RTI, which comes into effect on 6 April 2013 for employers and pension providers. The structure of PAYE will remain unchanged, but RTI will change the way in which employers and pension providers submit PAYE details to HMRC.
Under RTI, information about PAYE payments will be submitted online each time a payment is made as part of the payroll process, rather than at the end of the year as they are now. Every time an employer or pension provider pays their employees/pensioners they will need to send a PAYE return in real time to HMRC online.
All employers will be legally required to start sending PAYE information in real time from April 2013 unless HMRC has agreed an alternative date.
These sessions are aimed at members working in tax practices and will discuss the changes as well as looking at what actions employers need to take.