Contact Us

It has emerged up to 40,000 taxpayers have had their income tax deductions affected by the new Real Time Information (RTI) government programme.

Under RTI, employers tell HM Revenue & Customs (HMRC) about gross pay, tax, National Insurance contributions when or before payments are made; instead of waiting until after the end of the tax year. RTI went live in April following 12 months of trials and was introduced in order to facilitate Universal Credit, which will shortly replace the Tax Credits system.

Via the information collected from the PAYE scheme, tax codes are generated for individual workers which tell employers how much tax to deduct. It was hoped that with RTI supplying HMRC with more current information that tax codes would be more accurate. But unfortunately, many of the tax codes issued have been incorrect this year, leading to some taxpayers paying the incorrect tax.

A spokesman for HMRC said: "We are aware of a problem affecting a very small number of employers and a small proportion of their employees.

"We are urgently working with the employers to solve this."

HMRC insisted that the new RTI system was working well on the whole, with more than 1.3 million PAYE schemes already reporting PAYE in real-time.

On its introduction two months ago, director general at HMRC, Ruth Owen, intimated the new scheme is arguably the biggest change to PAYE since its infancy in the 1940s.

At TaxAssist Accountants we can file all of your year-end and in-year returns for you with HMRC and provide you with P60s to distribute to your employees.

Our payroll software is on HMRC’s list of RTI-compliant software so you can rest assured that we can manage the migration into RTI and all of the reporting changes that it entails, leaving you to concentrate on managing and growing your business.

To discuss how we can help in greater detail, why not arrange your free initial consultation with us today and get the ball rolling.

Date published 3 Jun 2013 | Last updated 3 Jun 2013

Choose the right accounting firm for you

Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?

Local business focus icon

Local business focus

We specialise in supporting independent businesses and work with 100,000 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.

Come and meet us icon

Come and meet us

We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 409 locations, meet with us online through video call software, or talk to us by telephone.

Switching is simple icon

Switching is simple

Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.

See how TaxAssist Accountants can help you with a free consultation

020 3972 2800

Or contact us