Month-end crunch looms for RTI
ICAEW-endorsed Bacs service provider Credec warned that the PAYE real time information (RTI) system faces its most critical test in the final few days of April.
Credec director Alexander Meynell told AccountingWEB that the profession has been in the “Twilight Zone” during the first month of the new filing regime.
“HMRC reported that it had handled 70,000 submissions in week one of the new tax year: that’s 3.5% of the total. The end of the month is the real acid test.”
Meynell is concerned on two fronts: first whether the government’s web gateway will cope with the volume of submissions; and if they get through, will HMRC’s back-end computers reconcile the data fast enough to stop backlogs from building up?
“Were RTI not to perform and government gateway has a collective heart attack from the 30th..