PAYE: Real time information to start in 2012
The draft of the Finance Bill 2011 set out new proposals for improving the operation of PAYE, including the collection of real time information. Rebecca Benneyworth reports.
AccountingWEB.co.uk took part in the recent HMRC consultation on improving the operation of PAYE. There were 400 responses to the consultation. The material published on 9 December indicates how the proposals will be taken forward.
The proposals for the collection of real time information (RTI) were broadly well received, and the government has decided to proceed with the implementation of this system as soon as possible. The changes will commence in April 2012. More detail on how it will affect parties involved with the PAYE system are set out below.