PAYE - Real Time Information (RTI) - Relaxation for small employers extended to April 2014
HMRC has announced that the relaxation of PAYE reporting arrangements for smaller business has been extended to April 2014.
What does the relaxation actually mean and to whom does it apply?
The relaxation applies to employers with fewer than 50 employees.
The relaxation does not completely exempt small employers from having to report under RTI. What it actually means is that small employers are still required to report through the new system, but are able to do so once a month, rather than each time they pay their employees. This gives small businesses that pay weekly (or more frequently), but who only run their payroll at the end of the month, some extra time to adjust to the new requirements.
To see HMRC's statement, please click here.