What does it mean to me?PAYE Modernisation requires employers to report pay, taxes, and other deductions from employees. Rather than once a year at payroll year end, employers need to do this every time they run their payroll. Traditional reporting via paper forms such as P30, P35, and P45 no longer exists.It’s a similar concept to UK Payroll Real Time Information (RTI). Employers need to file electronic payroll returns for each payroll run. Why was RTR introduced?Having real-time information means Revenue can issue accurate and timely instructions to businesses. This ensures that an employee’s tax position at any time is correct. This means fewer instances of under or overpayments of tax. What do I need to do?Your Payroll service is 100% compliant with RTR, so you are already set up for RTR. For help with online submissions, please read Send a payroll submission to Revenue. [BCB:299:UKI - Personal content block - Dane:ECB][BCB:305:UKI - Search override - Payroll IE:ECB]
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