The HM Revenue and Customs (HMRC) is ready to change the way it’s employees report their PAYE (Pay as you earn) data by implementing Real Time Information (RTI). The frequency of reports will also change and in order for employees to become fully aware of the specifics of the changes the HMRC are creating an awareness campaign.

The changes will commence in April, 2013 and the campaign will kick start with all information on what needs to be done and how being posted to over 1.4 million employees. The campaign will develop and further awareness will be produced through the employment of;

• Flyers
• Emails
• Regular Twitter question and answer sessions
• You Tube videos
• Cross country road shows.

The Real Time Information element will allow employees to send PAYE date electronically to the HMRC at every transaction, rather than sending an annual, end of year return. The benefits of the RTI include it’s straightforward nature and ease of application and is being introduced to improve the operation of PAYE for employers, employees and the HMRC.

It will also give recent wages and tax information for the forthcoming Universal Credit so eligible employees will receive the correct amount of benefits.

Ruth Owen, the Director General of HMRC warns employees not to put it off, stating that Real Time Information will becomes a reality in less than Six months time. She advises companies to implement the information sent to them which will tell them what to do to get ready for the change. She concludes that companies should take action such as ‘speaking to tier payroll software provider or payroll service provider and checking that their employee data is accurate’.

For more information please visit: http://www.hmrc.presscentre.com/Press-Releases/PAYE-Real-Time-Information-six-months-to-go-680ce.aspx.