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Looking Good for RTI

Looking Good for RTI

I submitted a client's tax return on Saturday.  On Tuesday morning, I got a notice of coding, increasing his code from 810L to 864L (with which I agree).  Nanoseconds later, it was revoked by a code of BR, bearing the next serial event number.

Great stuff !!

Anyone else looking forward to RTI ?

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04th Jan 2013 14:27

Maybe it is just me...

I'm wondering at what point HMRC will 'fes up' and defer the rollout to SME's (i.e. 98% of businesses by volume) until 2014, 2015, 2016...heat death of the universe...

It's quite obvious that this stuff will just cause chaos if introduced 'big bang' and HMRC have got better things to do than nursemaid this idiocy during the ongoing economic slump.

I'm not actually saying that RTI is a bad idea, it isn't. It's just that it needs to be rolled out incrementally and only affect small businesses when they have a solution that works for them.

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05th Jan 2013 13:15

Hypothetical situation

Small business owner calculates the wages on Thursday for payment Friday, submits the RTI return.  Goes away on holiday/business trip/whatever on Friday, so isn't in the office.

Employee is sick on Friday, doesn't collect his wage.  Returns Monday, but his Friday wage is recalculated.

 

Easy to correct the following week, I suppose - but what if  "employee is sick" is replaced by "employee gets another job" or "employee is run over by a bus" ?

 

I'm not particularly against RTI but I'd rather report things that have happened, rather than what probably - but not definitely - will happen.

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