Irrespective of whether you’re ready or not, RTI is now just around the corner and will affect your business, so like all things in the commercial world, it’s best to be prepared.
Starting from today, it is really important to make sure you have all your internal processes and systems geared up for this significant change in how PAYE will be dealt with in the UK.
The aim of this post is to give you an overview of what should be done not only as a priority, but now also with a degree of urgency, with the intention of making your journey towards RTI as pain free as possible.
What you need to be doing now
- Make sure the software you are using is RTI ready – Your software provider should have informed you of their strategy for the switch over to RTI and should have advised you of anything you are required to do to facilitate the change.
- Make sure your in house payroll team is ready and geared up for RTI – And they are conversant with what will be required of them.
- If you outsource your payroll you should have taken time to satisfy yourself that your provider is RTI compliant – If you have any doubt then contact them and ask them how they are going to cope with RTI check my source. If you are not convinced then look elsewhere.
- If you are planning on using the HMRC Basic PAYE Tools you should be getting organised – Make sure your payroll team are familiar with its operation.
- Make sure your data has been cleansed and is in as good a shape as it can be – If in doubt take a look at the RTI section on Payroll Services Centre website where there is plenty of useful RTI information.
You also need to think about:-
- Making sure your data is aligned with HMRC.
- Informing your staff of the changes ahead.
- Making allowances in your data collection system for additional information that will be required by RTI. For example, new employee questionnaires, as well as making allowances for lower paid, temporary, irregular, and casual staff.
Once you have attended to all of these tasks you should be in very good shape to have a relatively pain free transition over to RTI. That said, if you are still struggling to get to your head around the whole notion it is not too late to seek advice. Your software provider, accountant and HMRC are all perfectly positioned to help you make a smooth switch over.
However, if you are not getting the support you feel you need, we are here for you and can help get your RTI ducks in a row. Contact us today on 0800 018 0590 to discuss how RTI will impact on your payroll procedures and how we can help you.