Replies (11)
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This can't possibly be right
Because HMRC promised us it will save us time and money - £350m I believe......
HMRC
Surely HMRC can't be blamed for BACS software suppliers deciding to cash in by charging large upgrade fees?
HMRC can't be blamed...
...when they introduce new regulations that, surprise surprise, cost money to comply with?
err, yes they can.
Chewy Moments !!
Chewy Moments
I would urge everyone to listen to the Radio 4 PM broadcast of 5th Match 2013 - www.bbc.co.uk/pm - and 26 minutes into the program hear Linn Homer telling us all that there may be a few "chewy moments" when RTI begins in April.
She goes on to say that RTI is a "well piloted scheme" and in essence all is well.
The BBC reporter concentrated on the effect of RTI on small businesses and he is desperate to get the views and opinions of larger employers, as there is a suspicion in the non-payroll world that the arrival of RTI may not be as welcome as HMRC senior management believe.
if you would like to express your views on the Pilot - in total confidence, with an Actor speaking your words then contact [email protected],
BACS software
At one stage under RTI everyone was going to have to pay by BACS. At least HMRC saw sense on that one.
What exactly does BACS software do differently under RTI ? The payroll software has to produce a "hash tag" in the file sent to the BACS software which is then transmitted, as it was transmitted before RTI.
RTI
Who came up with the idea of RTI in the first place - the Revenue or software suppliers?
BACS software
Company turnover under £2m but it's costing us £2490 to upgrade our BACS package. Unfortunately we are a labour intensive business so it's not practical to pay every individual by internet banking so we're stuck with it.
What benefit are WE getting out of it - absolutely none. A total waste of money. Blatant profiteering by the software companies.-
There may be economic benefits to the country as a whole through RTI but PLEASE don't tell us that employers will be making savings.
RTI - Comfirmation that BACS submission to HMRC was successful?
Hello
I wondered if anybody knew how we can be sure that the new BACS file that has the 'hash' in, has been successful. We are reliant on the software provider submitting the information to HMRC, but how can we be sure that it is correct? Should we get some sort of confirmation back to say it has been submitted?
Our provider is NatWest Payaway IP Direct.
Thanks very much
The Hash Tag is created using a combination of the amount paid, the sending and receiving sort codes and the four character has itself. The eventual tag submitted is based on an established algorithm which every software house and inhouse developer has to align to (I think HMRC have stated it's based on SHA256 - that's your software provider's issue, not yours by the way!).
Once your RTI submission is sent out, it goes through a 3-stage validation process at the HMRC end and this includes an acknowledgement in some cases and where necessary, an exceptions/rejections file with any errors it encounters during validation.
BACS Payment Services in UK
Going with the flow of fellow members, we definitely agree that the administration cost of maintaining any BACS approved software is huge. We too provide BACS approved payment solutions and spend a fortune in making the software hassle free with bank-grade security and 100% cloud-based payment solutions. Additionally, the BACS approved payroll software has to produce a "hash tag" in the file sent to the BACS team, before submitting the same to the RTI. All these systems build up the cost of maintaining the software.