Payroll is one of the most important part of business and it could be time consuming and complex system. So, operating an in-house payroll team, and keeping up to date with frequently changing regulations, can be a costly burden for many businesses.
Through RTI, employers are required to inform HMRC on-line about tax, NICs and other deductions when or before the payments are made, in other words providing information to HMRC in ‘Real Time’. This will be monthly or weekly depending upon when the payroll is processed. There is also a requirement to include details of normal working hours.