How Real-Time PAYE has affected SMEs
About 6 years ago the Government changed the rules for companies reporting PAYE information.
Since 6 April 2013, companies have had to follow a mandatory process called Real Time Information (RTI), which sounds like an episode of 24 with Jack Bauer stuck on the line to HMRC.
Instead, this meant that SMEs had to update their payroll software so it would immediately inform HMRC of their employees pay and deductions each time they paid their wages.
Why did the Government do this?