Leading Liverpool accountants Haines Watts are advising hundreds of businesses on the new Real Time Information (RTI) PAYE after it was recently introduced by HM Revenue & Customs (HMRC).
Partner Des Veney said that the firm had received lots of enquiries since the changes were announced back in September.
He said: “RTI is a pilot scheme, which will run between now and March 31, 2013, with as many as 250,000 employees lined up to take part. It will mean a radical change to the current PAYE system meaning that employers will be able to send their PAYE data electronically to HMRC each time employees are paid – not just once at the end of the year.”
It is believed that the new regime will reduce costs and save employees nationwide an estimated £300m every year.
“My advice would be to contact your accountant to find out more”, said Des, “Lots of companies still don’t know about this and that is a concern. RTI is going to affect all businesses, no matter what their size.”
Haines Watts Chartered Accountants have provided accountancy services and business advice to many local enterprises and individuals for over 20 years, in Liverpool and the North West area.
Situated in Liverpool’s financial district, they service a variety of SMEs and large businesses in sectors including construction, property, manufacturing, I.T. and service related industries, professional, partnerships, charities and B2B companies.
