Payroll World reports that the Federation of Small Businesses (FSB) has called for an easing of the reporting requirements for RTI, so that firms only need to submit data to HMRC once a month in order to reduce the cost burden on SME's.
The FSB’s proposal is to replace RTI with ‘Regular Time Information’, under which employers could submit returns once a month and which would help businesses with weekly payrolls, for example.
Sadly, for the FSB, this request is being made far too late in the day for it to be considered. The reality is the RTI is the flagship of HMRC and the government's Universal Credits. In the event RTI fails, both HMRC and the government will be holed below the water line.
Tax does have to be taxing.
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Well it doesn't take a rocket scientist to work this out.
ReplyDeleteRTI nose dives into the stormy sea as HMRC, rudderless and without a competent bridge crew, drifts aimlessly amongst the offshore rocks and the siren wail of the Dekunobo's.
Whilst HMG blames HMRC for the ensuing wrecks and pollution. LOL
The failure of UC will be blamed on the failure of RTI which will be blamed on the failure of HMRC to implement it properly; ie the government will do all it can to avoid blame for something that it has been warned will not work.
DeleteWell as you said any action now is far too late. People accuse HMRC of firefighting events well this is a classic example of businesses not listening for the last 2 years and then panicking like headless chickens. It's the businesses fault if they fail to file on time and should have been up to speed on this well before now.
ReplyDeleteCorrect me if I am wrong but for the SMEES out there, of which there are a few, RTI is going to be a real time pain in the ass?
DeleteSmall business' such as SP/Partnerships and the smaller Ltd companies tend to buy in bookeeping services to deal with "The Tax" because they can't aford to have their own bookeeping/accounts departments.
Changing to e.g a weekly "run" is going to put them out of business and end up with more people on the dole. That can't be good for UKPLC surely?
You could ask why the federation of small businesses left it so late to announce this may cause its members a few problems, alternatively you might ask why weren't the FBI consulted by HMRC, after all isn't supposed to have a customer centric strategy.
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