Employers concerned about the impact of one of the most significant changes to affect payroll for decades are being invited to a seminar which will shed light on the new rules.
Staged by Swindon-based chartered accountants Banks, the event will focus on RTI (Real Time Information) – the changes governing payroll which come into force in April and will be mandatory for all employers by October 2013.
It will also look at the new workplace pension scheme whose roll-out began in October last year and which requires employers to automatically enrol qualifying staff.
All but the very largest employers will need to be ready for RTI in April. The change means that instead of waiting until the end of a tax year to tell HMRC about tax and National Insurance deducted from employees, employers will have to send information to HMRC online whenever there is a pay run.
This applies to all employees, including those paid below the National Insurance Lower Earnings Limit (LEL).
Banks director Richard Mathews, pictured, said: “There are two key steps to take to be ready for RTI: employers must ensure their payroll software is fully HMRC compliant by April, and they must also ensure all their data on employees – name, date of birth, National Insurance number – matches that held by HMRC.
“One option for companies to consider might be to outsource payroll as, inevitably, the RTI process will take up valuable time.”
The free, evening seminar on Wednesday February 6, will be led by Banks’s payroll manager Anne Bluh. To book, visit www.banksca.co.uk or email shelly.hacker@banksca.co.uk.
