Unified Software has launched a new web service which will help employers comply with the new HMRC Real Time Information scheme (RTI).
The RTI pilot scheme will start in April 2012. It is being introduced by HM Revenue and Customs to improve the operation of PAYE.
RTI will help HMRC link PAYE payments to National Insurance and other deductions at the time the payments are made, rather than having to wait until the end of the tax year. Once the system is in place, employers will be required to submit a new cross-reference key (‘hash’) each time they make a payment.
To help employers comply with RTI, Unified Software has introduced a new web based service which generates the new ‘hash’ cross-references quickly and easily.
Finance Director Christine Forsyth commented:
The new HMRC RTI system has advantages for employers and employees. To help businesses get up and running, we have integrated the new RTI functionality into our Bacs payment gateway application BankPay-IP. We have also launched an online service which can be plugged in to any existing software very easily. This will allow businesses to generate RTI hashes with the minimum of fuss.