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RTI deadline extended again!!

13th Jun 2013
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HMRC have announced that the introduction of Real Time Information reporting has been temporarily relaxed again. The deadline has been moved out to April 2014.
As many businesses will remember Real Time Information sees PAYE reported on or before the date payment is made, while changes will be reported as and when they occur, rather than at the end of the financial year via the form P35 etc, and associated reconciliations of PAYE/NIC will be paid in the year.
       
HMRC stated that one of the advantages is that "businesses will not be required to change their approach halfway through the tax year", but at bestonlineaccounting we wonder whether it is due to political pressure on trying to decrease the increasing burden on small businesses who are doing the best to get the country out of recession!
As with the current relaxation, businesses are still required to report through the new system, but are able to do so once a month, rather than each time they pay their employees.
Currently, more than 1.4 million employer PAYE schemes are now reporting to HMRC, with around 83% of SMEs and 77% of micro businesses using the system.
ICAEW tax faculty chair  Paul Aplin said: "I welcome the decision by ministers to extend the RTI easement to April 2014 to give HMRC and DWP time to look at the specific problems on or before reporting poses for the smallest businesses.
"It is vital that this issue is dealt with in a way that avoids adding extra burdens to an already over-burdened section of the business community and the announcement shows that government is alive to that. "
HMRC director-general for personal tax Ruth Owen added: "The roll-out continues to exceed our expectations. I am delighted that 83% of SMEs and 77% of the smallest businesses are already on board. We will now write to the minority of employers who are not, to establish how we can help them meet the requirements of reporting in real time."
Overall - this announcement is qualified good news - at bestonlineaccounting we just wish that any HMRC innovations were thought through better, as the next time an "improvement" is announced by HMRC the business community will be more sceptical as to its successful implementation as well as the timing.
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By User deleted
13th Jun 2013 22:44

Quelle ...

... surprise

NOT!

 

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