HMRC publishes revised PAYE timetable
Information released to IT companies to build new payroll systems
HM REVENUE & CUSTOMS has published information for IT companies to build new payroll systems. It has also announced that businesses will not be forced to use new online technology for PAYE filing.
The taxman has published a technical pack for software suppliers to begin building payroll technology. The IT industry was due to receive the information at the end of March.
HMRC is requiring technology that will allow real-time PAYE information (RTI) to be submitted through the internet.
Volunteer employers will begin testing the system in April 2012, with large companies adopting it in January 2013 and all employers by October 2013.
However, following discussions with the software and banking industries, HMRC has said that it will allow another method for submitting real-time PAYE information rather than just online as previously stated.
Employers will be able to update an existing system EDI – which transfers information directly to another computer – until “at least” 2014 rather than phasing it out in October 2013 as planned.
One of the more popular ways to submit PAYE information has been through bacs – bankers automated clearing service. Technology was being developed to update bacs so that RTI could be submitted online, however, a revised timetable will be published in “due course”.