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RTI costs

08 January 2013
Issue: 4385 / Categories: Forum & Feedback , RTI
"BACS-approved bureaux have invested in upgrading their software"

The cost of real-time information (RTI) and how to minimise it will be of interest to all accountants operating PAYE for their clients.

Upgrading BACS software can be expensive but the costs don’t always need to be absorbed by the company.

There are plenty of BACS-approved bureaux that have already invested the necessary funds in upgrading their software. Outsourcing certain services such as submitting BACS files may provide a cost effective solution.

The main area of concern is ensuring payroll providers will be RTI-ready. RTI has caused waves in the software industry as well as for businesses with some providers not being able to meet the grade.

Our advice to accountants would be to check that their software provider is RTI-ready. HMRC provide a full list of RTI-ready software developers.

Practitioners should also check with their BACS provider that they are RTI-ready. If they are...

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