Pilot businesses needed for RTI initiative
HMRC call for 1,300 businesses to test real time reporting initiative
THE TAXMAN has called for more businesses to volunteer for the pilot of its real time information initiative.
Currently, 300 businesses have agreed to pilot the scheme, which will involve employers sending PAYE returns at the same time they pay employees. The testing will begin in April 2012, and RTI will be compulsory for all businesses in October 2013.
HM Revenue & Customs said it wants 1,300 more businesses to come forward to pilot the scheme. It has also called on an additional 250,000 businesses to join RTI from November 2012, following initial findings from the pilot.
Stephen Banyard, acting director general for personal tax, said: “Expanding the pilot from the original 300 employers will help ensure the smooth implementation of RTI. It is an ambitious but achievable target as we know that RTI is on track. We have considered all the technical and practical issues and are confident that we have the capacity to increase the pilot by over 300 per cent in July next year.”