Employers urged to prepare for new pay reporting system

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A new sytem for sending pay data more often to the taxman is being rolled out across the Milton Keynes region.

The Real Time Information in Pay As You Earn (PAYE) scheme will see around 4,710 South East payroll systems join the pilot in November and December 2012 ready for go-live in April 2013.

Next year employers will start to send PAYE data electronically to HM Revenue & Customs (HMRC) each time they pay their employees as part of routine payroll processes, rather than sending a separate return at the end of the year. Returns will include details of all employees’ pay, tax and deductions.

 

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