With less than a month to go until the introduction of RTI, HMRC has launched an advertising blitz telling the world how wonderful it will be (they even manage to mention Churchill - the late Prime Minister, not the insurance dog).
In a press release issued Monday HMRC claimed that:
"It will reduce administrative burdens for employers by around £300 million every year."Errmmm....I'm not entirely sure as to where that £300M figure has been derived from (Homer quoted the same figure in February, but did not validate it)?
I also wonder if the costs to those SME's without payroll functions has been taken into account?
Additionally as I noted in January, companies will need to invest in new payroll software, or update their current systems to comply with RTI; these costs have to be borne by the companies.
Tax does have to be taxing.
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