RTI - Real Time Information

Real time information or RTI as it will be commonly known will be introduced from April 2013. Instead of just submitting P14 and P35 information at the end of every tax year every employer will need to submit employee information in 'real time'. This means that after every pay period the employee's details, PAYE, NIC and student loan deduction information will need to be electronically submitted to HMRC.

This will help ensure that HMRC respond to errors quickly, reduce the overpayment and underpayment notices and reduce the risk of fraud.

More information available at http://www.hmrc.gov.uk/rti/index.htm