Small businesses to struggle with RTI, say MPs

by Jaimie Kaffash

More from this author

12 Jan 2012

  • Comments
paye-hmrc

SMALL BUSINESSES will struggle to implement real-time reporting, the Public Accounts Committee has warned.

Under the real-time information (RTI) initiative, employers would send information to HM Revenue & Customs when they run their payroll. All businesses must implement RTI by October 2013.

However, the PAC has warned HMRC that it must develop an "effective approach" for businesses that do not currently have electronic payroll systems.

"Approximately 94% of employees receive earnings electronically, but small businesses without electronic payroll systems and the self-employed do not currently submit monthly data to HMRC," the report said. "HMRC told us that it is currently identifying how best to include the last 6% of employees (about 1.5 million people) and the self-employed in the RTI system, but the detail of how this is to be achieved remains to be worked through."

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Appointments to University Committees

University of Glasgow 120x60University of Glasgow - Glasgow - unremunerated positions

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.