THE PILOT of real-time information has been extended further by HM Revenue & Customs, with the trial so far having proved successful.
From November, further products and providers will be allowed to join the scheme, which sees PAYE changes reported to the taxman as and when they occur, rather than at the end of each fiscal year.
Initially, the pilot was launched with ten employers, including HMRC, updating their records in real time.
310 employers were added in May, with the Revenue receiving more than 100,000 employee records from those employers.
The latest extension of the pilot will incorporate new PAYE schemes set up after November and existing employers that in 2012-13 “either become clients of pilot software providers, bureau or agents or whose provider makes pilot software available for RTI to start sending PAYE information in real time”.
HMRC hopes to roll out RTI nationally from April 2013, with all employers taking part by October of the same year.
Making Tax Digital responses to the consultations expected in January 2017
Further corporation tax cuts and reliefs for cutting-edge tech businesses have been pledged by prime minister Theresa May, ahead of Wednesday’s Autumn Statement
The UK has not followed the global trend for reducing income tax over the past two decades
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