ACS Technologies

RTI is coming, are you ready?

Quickbooks RTI

What is Real Time PAYE?

Download our free guide to RTI Here

From April 6th 2013, all employers must start reporting PAYE information to HMRC in real time, on or before the date you pay your employees.  By reporting PAYE in real time, HMRC will be able to tell you how much you should pay each month.  This will make it easier for you to pay the right amount each month and help to avoid building up debt
Reporting PAYE in real time is mandatory, so will need to happen as part of your routine payroll process from your first payday on or after 6th April 2013.

Why is Real Time PAYE Happening?

Currently, businesses send PAYE data to HMRC once a year.  This system worked well when people typically had one job or received a single pension.
However, nowadays many people have more than one job or pension, and tend to change jobs more frequently.  This means they sometimes end up paying the wrong amount of tax.
Under Real Time PAYE, HMRC will receive information about tax paid in real time, making it easier to ensure deductions for tax, National Insurance and Student Loans are accurate.
From October 2013, Real Time PAYE data will also be used by the Department for Work and Pensions to calculate Universal Credit – the new single payment for people who are looking for work or are on a low income

What does this mean to your business?

If you already use payroll software or a service provider, you should have now checked with them and confirmed that the product or service you use has been updated so you can send your PAYE in real time.
If you run your own payroll but don’t currently use payroll software, you will need to start using payroll software as soon as possible - this is the recommendation by HMRC.
Intuit QuickBooks payroll software is RTI-enabled and HMRC recognised.  You can view HMRC’s recommended software providers here:  http://www.hmrc.gov.uk/softwaredevelopers/paye/rti-software-forms.htm

If you need to look at upgrading, changing or implementing a new Payroll system, click the links below to see more details on the Quickbooks with Payroll versions available:

Quickbooks Pro + Payroll   Quickbooks Premier + Payroll   Quickbooks Enterprise

How can we help?

ACS Technologies can help to ensure that you and your systems remain compliant. As Intuit Quickbooks partners, we can help you get up and running if you need to change your existing accounts software or upgrade your current version of Quickbooks. If you already have an accounts package we can help you to confirm that your current package is compliant or help with upgrades if required. I have also enclosed further information on the Quickbooks range of products and further details on RTI. For more information or a no-obligation chat, please contact us on 01628 819500. Donít forget, RTI comes in to force from April 2013 so make sure you are ready!

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