What is RTI?
Since 6th April 2013 employers are required to start reporting PAYE information to HMRC in real time – Real Time Information (RTI).
This means that employers have to send details to HMRC electronically every time they pay an employee as part of their routine payroll process.
HMRC introduced RTI in order to modernise the Pay As You Earn (PAYE) system and keep pace with changes to modern working patterns.
RTI provides HMRC with up to date information, so it's easier to ensure deductions for tax, National Insurance and student loans are accurate.
What does RTI mean for your business?
When you pay yourself (as a Director) or your employee, this needs to be filed to HMRC that day, via a Full Payment Submission (FPS).
You can pay yourself and your staff once a month. If you have employees, we will look after your company via our Crunch payroll service.
How will RTI work in Crunch?
Crunch will submit your ‘RTI Returns’ to HMRC as soon as you save a payroll run - that's it.
For more information on how to add a payroll click here.