HMRC RTI (Real Time Information) New Rules

10 May 2011

As you may be aware, Her Majesty’s Revenue and Customs (HMRC) are soon to be introducing a change to the way payroll payments are made via Bacs.

Under the new rules companies submitting payroll payments to Bacs will need to include additional information along with the Bacs transaction including the payee’s tax code, pay to date and tax to date amongst other items of information. These new rules have been named RTI or Real Time Information by HMRC.

Migration is scheduled to start in April 2012 with an aim to have all companies migrated by the end of 2013.

HMRC and Bacs aim to have all companies submitting payroll payments via Bacs submitting the additional information under the new rules by the end of 2013.

Our Bacs software development teams are currently working on additional functionality to be made available to all customers. This functionality will enable customers to continue to submit their payroll payments via Bacs while also including the additional information and complying with the new rules.

Once the functionality is available all customers will be informed with details of the migration process.

For more information about how the new RTI information fits in with the government’s plans for payroll processing please refer to the following link:
White Paper on Universal Credit: http://www.publications.parliament.uk/pa/cm201011/cmselect/cmworpen/writev/whitepap/uc37.htm