The temporary relaxation of real-time information (RTI) reporting rules for small businesses will be extended until April 2014, HMRC has announced.
Employers with fewer than 50 employers were told in March that they can send PAYE information to HMRC by the date of their regular payroll run, instead of before or on the date that the payment is made, provided it is no later than the fifth of the month.
This arrangement was due to end on 5 October 2013 but it has now been extended to April 2014 so that employers are not forced to change their reporting systems midway through the tax year.
Commenting on the first month of the new RTI system, HMRC’s director-general for personal tax, Ruth Owen, said:
“The roll-out continues to exceed our expectations. I am delighted that 83 per cent of SMEs and 77 per cent 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.”
