Real Time Information (RTI) has been with us for just over a month now. It hasn’t been the total melt down some predicted – helped by the fact that penalties aren’t currently being charged for getting it wrong.
Here’s the top 5 pitfalls that we’ve identified so far:
Paying staff before submissions are made to HMRC
Paying advances to staff – this is a payment of wages requiring a submission to HMRC
Paying staff estimated weekly wages but only running a monthly payroll – weekly submissions to HMRC are required
Casual workers- these have to include these on submissions to HMRC unless all employees earn less than £109 per week
Employees known by their middle names – full birth names must be used so HMRC can match submissions to the records they hold.
If you’re struggling with running your payroll then don’t hesitate to get in touch for a quote.
John manages a wide portfolio of owner managed businesses and oversees the smooth operation of the firm’s payroll department.
After obtaining his degree in mathematics from the University of Liverpool, John joined Jonathan Ford & Co in 2004 and qualified as a chartered accountant four years later.
John likes to keep abreast of developments in tax and accounting and is responsible for the mentoring of junior staff.
Outside of work, John enjoys keeping fit and is a Liverpool FC season ticket holder.
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