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PHILIP NYE considers the future of pay-as-you-earn under real-time information
KEY POINTS
- Real-time information (RTI) is currently being piloted.
- Most employers will be required to take part from April 2013.
- RTI offers a number of potential benefits to employers.
- Concerns over the introduction and implementation timetable.
- The government have come out against centralised deductions.
It’s the biggest change in PAYE since its introduction in 1944 and very soon to be upon us – upon some already in fact.
The introduction of real-time information (RTI) reporting was never going to be a trivial task and a new report by the All-Party Parliamentary Taxation Group (APPTG) suggests the road ahead is not yet clear.
The RTI policy received a positive reception when it was first mooted in a government discussion document in 2010 with Chartered Institute of Taxation (CIOT)...
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