Delay to RTI is
Published on 13th July 2012 by William Guy
Recommended delays to Real-Time Information (RTI) are unlikely to come to fruition, according to KPMG.
The All-Party Parliamentary Taxation Group (APPTG) has stated that business needs should be prioritised over the policy deadline for Universal Credits in the RTI timetable. However, there is doubt that the implementation will be postponed.
The White Paper Pay As You Earn at the Crossroads argues that the majority of tax credits will not be transferred into Universal Credits until the middle of 2015. As a result, the impact of delaying until this point will not be substantial as relatively few claimants will be involved, all of whom will still be able to self-report.
Steve Wade, KPMG Director, said “The last thing businesses should do is assume that they will get more time and thus put their planning on hold. Our understanding is that HM Revenue & Customs remains determined to introduce RTI in April 2013 as originally planned.”
The APPTG also suggested that the migration and additional administrative cost of RTI should be fully understood, and a strategy for micro firms and the digitally excluded be executed. Other recommendations include resolving all outstanding payroll issues and establishing clarity over how RTI will operate.
Pay and Benefits Magazine - Friday 13th July