EBS UK Payroll : Real Time Information (RTI) White Paper and Patch Information
(Doc ID 1324671.1)
Last updated on JANUARY 16, 2018
Applies to:Oracle HRMS (UK) - Version 12.1 HRMS RUP4 to 12.2 HRMS RUP8 [Release 12.1 to 12.2]
Information in this document applies to any platform.
This Document is dynamic and it is expected that it is continually updated, as such please monitor this note appropriately.
Real Time Information, or RTI, is a new system that Her Majesty's Revenue and Customs (HMRC) is introducing to improve the operation of PAYE. RTI will mean that PAYE information is collected every time an employee is paid rather than annually when a business submits its end-of-year tax return.
RTI means that employers will send data about PAYE, NIC and student loans every time they pay their employee
Why is HMRC introducing RTI?
HMRC is introducing RTI for a number of important reasons.
- To enable a more efficient response to PAYE errors such as under or over payments.
- To support the introduction of Universal Credits, which will streamline benefits into one payment.
- To reduce fraud and ensure people receive the benefits they’re entitled to.
- To provide the Department for Work and Pensions with up-to-date information about each claimant’s employment income more efficiently.
RTI will be introduced from April 2013 and will become mandatory for all employers from October 2013.
The view is that most customers will looks to go-live in April (mandatory for customers <5,000 employees) or shortly after where total payroll population is >5,000 employees
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In this Document
|Functional Information from HMRC|
|Other Oracle Resources|