The Association of Taxation Technicians (ATT) welcomes the announcement today by HMRC, that it is making a significant relaxation to the Real Time Information (RTI) PAYE reporting requirements for small employers for a limited period.
The organisation representing UK tax compliance specialists has welcomed today’s government announcement of a relaxation in the PAYE ‘real time information’ (RTI) rules for small businesses.1
Yvette Nunn, President of the ATT commented:
“The requirement to submit PAYE information in ‘real time’ would have placed substantial extra burdens on smaller businesses, especially those that employ payroll agents to submit their PAYE information to HMRC. Today’s announcement won’t remove these burdens entirely, but it will go a long way towards doing so, at least for RTI’s early stages.
“Small firms and entrepreneurs are the life blood of the economy. Encouraging these businesses and minimising the admin burdens on them is vital for the UK.
“This announcement shows the Government are listening to the concerns of the tax profession. I urge them to keep listening and rethink their ‘cash basis for small business’ proposals too. These have the potential to simplify tax for the smallest businesses but, as currently drafted, are so badly designed that few will take them up.”
RTI comes into effect at the start of April 2013 for most small employers.
Notes to Editors
1. HMRC have announced that, until 5 October 2013, employers with fewer than 50 employees, who find it difficult to report every payment to employees at the time of payment, may send information to HMRC by the date of their regular payroll run but no later than the end of the tax month (5th).