Real time information and reporting

Real time information and reporting

QUESTION:

I run my own small business, and I pay my employees on the 12th of each month; therefore this year I will be paying my employees on 12 April 2013.  Their pay is for the month of March so I have calculated using month 12 allowances, but with the introduction of real time information I need to know how to make HMRC aware of this when submit my first real time PAYE data. I want to ensure I am doing things right.

ANSWER:

Unfortunately what you have described would be operating PAYE incorrectly.  If you are paying on the 12 April this is month 1 and not month 12.  Therefore when you have run the payroll correctly i.e. for the pay day on 12 April using month 1 your submission to HMRC will show the earnings paid etc. for month 1.

Make yourself familiar with the new changes! It’ll catch a lot of people out 🙁

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