Archive for April, 2013

Don’t Get Fined by the HMRC

Monday, April 1st, 2013

As you are no doubt aware, HMRC are in the process of introducing Real Time Information (RTI) into the PAYE system. By October this year, except for in a few limited circumstances, all employers will be required to report to HMRC on or before every occasion that an employee is paid.

In addition to this, new laws have also been introduced that require every employer to automatically enrol eligible employees into a workplace pension scheme, for which there are various staging dates over the next 4 years.

Not only is the legislation for these changes complex, but these rules will place major new burdens on employers and consequently it is vital that businesses plan ahead to ensure that they are prepared for the additional employee costs.

Help is at hand

We can give you advice on your new duties, the potential impact on your business and the changes that you will need to make within your company in order to fulfil these duties. We are already working closely with existing payroll clients to ensure that they are ready for RTI and we have systems in place to ensure that we can make all the necessary RTI submissions on your behalf. We would welcome the opportunity to discuss with you any concerns that you have about RTI and explain the services that we can offer to ease the payroll burden and ensure compliance with the new regulations.

We can also help to review your existing workplace pension arrangements to make sure you will comply with, or exceed the new requirements. If you have not got a pension scheme yet, we can help you put an appropriate scheme in place.

What now?

Minimise the impact of these changes and contact us here at Botting and Co Chartered Accountants today on 01903 713508, or email simon@bottingandco.co.uk.

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