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HMRC seeks feedback on RTI regulations

 

HM Revenue & Customs (HMRC) is seeking feedback from employers to discover how they are coping with the requirement to report PAYE information in ‘real time’.

 

The tax authority has launched an online survey to gauge opinion on the new real time information (RTI) legislation, which came into effect in April this year.

 

Under the new rules, employers and pension providers must submit information to HMRC regarding deductions they have made for PAYE, NICs and student loans when or before each payment is made, rather than at the end of the year.

 

Following concerns over the impact of the changes on smaller businesses, HMRC granted a temporary relaxation of the rules to businesses with fewer than 50 employees, allowing them to report via the new system but on a monthly basis, until April 2014.

 

HMRC believes that RTI will make the reporting process simpler and less burdensome for employers. However, some groups have expressed concerns over the feasibility of the changes for smaller employers who engage a large number of seasonal employees.

 

The Revenue is now urging agents and employers to use the survey to give honest feedback to help it assess whether any changes are needed to the new reporting rules.

 

‘This is a chance for employers and agents to have their say, so we are strongly encouraging them to complete the survey, which should only take ten minutes to do,’ a HMRC spokesperson said.

 

The survey can be accessed online here. The closing date for responses has been extended until 20 September.