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Government Initiative Puts Payroll Professionals In The Spotlight

Government Initiative Puts Payroll Professionals In The Spotlight

Hays Payroll Management, the leading recruiting expert, says the implementation of HM Revenue & Custom’s (HMRC) Real Time Information (RTI) initiative will create job opportunities for payroll professionals.

The initiative is designed to reduce errors in the tax system by ensuring that HMRC and the Department of Work and Pensions have up-to-date information about employees’ incomes. Once introduced in 2013, employers will need to provide information to HMRC about tax and National Insurance contributions for their employees when they are made, rather than at the end of the tax year.

Helen Livesey, Senior Manager, Hays Payroll Management explains, “We have already seen an increase in the number of employers taking on additional payroll staff in anticipation of RTI. As the spring 2013 starting date approaches, more organisations will need to prepare their teams to handle the work involved in submitting this information.

Employers with a large flexible workforce, such as those in the retail, hospitality and construction sectors, or with a significant proportion of commission based staff, will be particularly affected and we are urging these employers to take advice now to avoid delays next year.

Employers can not afford to ignore new regulations including RTI and pensions auto-enrolment, so skilled payroll professionals with strong technical skills who can help employers navigate these requirements will be in high demand over the coming year.”

To support employers through the implementation of RTI, Hays is running a series of seminars with Phil Nilson from the HMRC RTI team. The seminars will explain why RTI is being introduced, what it means for employers and how they can prepare.

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