Small businesses on the Fylde battling to implement the Governement’s controversial new Real Time Information changes have been urged to have their say on an online survey.
HMRC recently announced it was going to relax the RTI reporting rules for small firms with fewer than 50 employees, giving them until April next year to get the system of reporting employees PAYE up and running.
But it has also asked firms to complete a 10 minute survey before September 20 to help it understand how the process is going.
Many business organisations have complained that the more frequent reports, on or before the actual pay date, will prove onerous for small firms who may have to buy new accounting software.
Fylde chartered accountants MA2 today said firms should have their say.
James Howarth, manager at MA2, said: “For those businesses which are employing the services of a qualified accountant, the transition to real time reporting should be smooth, however we are aware that there are many who are endeavouring to implement RTI themselves without professional assistance.
“The full implications of RTI will only become evident when the deadlines and penalties commence.
“In the meanwhile, MA2 urge those who have both positive and negative feedback to use this opportunity to ensure HMRC are aware of the issues facing businesses today in the hope that these will be addressed in the near future.”
HMRC’s director-general for personal tax, Ruth Owen, said the introduction of RTI has gone well. She said: “The roll-out continues to exceed our expectations. I am delighted that 83 per cent of SMEs and 77 per cent of the smallest businesses are already on board. We will now write to the minority of employers who are not, to establish how we can help them meet the requirements of reporting in real time.”
Alison Tasker, payroll manager at ma2 Chartered Accountants, advised that “the information required remains the same, but at the moment there is sometimes a short time lapse until information is needed to be sent to HMRC.
“No doubt for some businesses this announcement offers some breathing space as reporting systems need to be very efficient to ensure information is sent to HMRC before or on the date payment is made.”