PAYE Modernisation

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payrollpro
payrollpro Registered Posts: 427 Dedicated contributor 🦉
in General accounting discussion
HMRC has commenced formal consultation on the modernisation of PAYE, particularly the issue of "Real Time Information" which is actually a more regular exchange of data with HMRC and possibly replacing the annual P14/P35 return with a pay period by pay period return.

Go to http://customs.hmrc.gov.uk/channelsP...E_PROD1_030851 to find the consultation document, or if this does not work go to the HMRC website and search for consultations. This one is under current consultations.

Last time this was speculative but now it is real with RTI due to be implemented for all employers by October 2013 in line with the introduction of the Universal Credit by DWP.

I will be compiling the formal response on this consultation on behalf of the AAT and it has to be in by the end of February 2011 so we need as many views as possible from members so that we can influence the final result.

If you have comments to make then please either post them here but privately let me know your membership number or send them to members services with details of the specific part of the consultation you wish to comment upon.

Payrollpro

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  • payrollpro
    payrollpro Registered Posts: 427 Dedicated contributor 🦉
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    May I remind forum members that this important consultation is still on-going and needs a response from AAT members.

    Remember that the proposals are to increase the amount of statutory data which employers and agents have to return to HMRC and to increase the frequency from annually to every pay period. I also remind you that the project is being driven now by DWP and not HMRC and is to become live from March 2012 for large employers and by October 2012 for everyone else.

    With 120,000+ members the AAT ought to have a significant influence over the final outcome but only if we have the views and concerns of our members so please read the consultation document and let me have your comments, or alternatively contact me for a summary of the proposals and do it that way.

    Payrollpro

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