Real Time PAYE Reporting Problems Possible

Real Time PAYE Reporting Problems Possible

November 12th 2012 4:05 pm

general

Businesses may find incorporating 'Real Time' PAYE reporting to HMRC impossible according to the Institute of Chartered Accou ...

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Businesses may find incorporating 'Real Time' PAYE reporting to HMRC impossible according to the Institute of Chartered Accountants. Current specifications from HMRC, which allow up to 7 days from the payroll date for pay information to be sent to HMRC,  could prove to be too much of a burden for businesses to incorporate into their filing routines. Frank Haskew, the head of the Tax Faculty at ICAEW states smaller businesses would be particularly affected trying to meet the expectations set, with Chairman Paul Alpin adding that monthly reporting would be the best compromise.

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