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RTI Update December 2020

15 December 2020 / Linda Pullan
Issue: 4773 / Categories: Comment & Analysis
34637
PAYEing out

With the autumn Budget cancelled agents employers and the payroll software industry are eagerly awaiting confirmation from HMRC of the new rates of income tax and National Insurance contributions and statutory payments. The new rates are normally confirmed at the autumn Budget and software developers will be particularly anxious because these rates are usually updated onto payroll software in November in time for the start of the new tax year.

Christmas payrolls

HMRC has issued a statement in advance of its December Employer Bulletin as a timely reminder to agents and employers regarding real-time information (RTI) reporting for Christmas payrolls. In December businesses often pay employees earlier than normal due to the festive season and business closures for holidays.

Full details are now in the bulletin on the GOV.UK website (tinyurl.com/y77vjckf). In summary HMRC says that if agents are processing and paying client...

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