Questions and Answers
RTI - Annual PAYE Schemes
I am the director-shareholder of my own small company and I don’t have any employees. As a result, I want to register my PAYE scheme as an annual scheme with HMRC for RTI purposes but I can’t get through to anyone. Am I doing something wrong?
Annual schemes can be a useful option for many- but particularly one-man limited companies like yours. An annual scheme must meet all of the following requirements:
- all the employees are paid annually
- all the employees are paid at the same time/same date
- the employer is only required to pay HMRC annually
Unfortunately, HM Revenue & Customs (HMRC) have been overwhelmed by requests for annual schemes and changes to payment frequencies. As a result, they are currently unable to process such requests. So it is unlikely you are doing anything wrong.
It states on HMRC’s website that they are working to rectify this position and will publish a further message to announce when the matter is resolved.
TaxAssist Accountants are RTI-ready and can deal with all of your payroll and RTI requirements on your behalf. Please feel free to contact us for more information or your free initial consultation.
Date published 1 May 2013
This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.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
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
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
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.