A recent report from HMRC gives Wispay Payroll from Webroster excellent scores on RTI (Real Time Information) submissions. Every time you produce a payslip for your employees you must report a detailed set of figures to HMRC, this must be done prior to cleared funds reaching the employees bank account (prior to 13th April 2013 this detailed information was sent just once a year at Payroll Year End).
Wispay from Webroster can be used for your Full Payment Submission (FPS), quickly and easily generating the required reports and sending them using secure electronic messages via the internet. All payroll systems have to send this to HMRC when they run their payroll and prepare BACS payments. It tells HMRC about the company itself; about starters and leavers, their eligibility to work in the UK and their partner if they are not a UK national; about the hours that each employee has worked; about their Gross Pay, Tax, NI, Pension payments and Maternity/Paternity/Adoption pay and about the BACS payment itself.
If you don’t need to pay any of your employees in a particular tax month, you’ll therefore have no FPS to send to HMRC so you notify them by sending an Employer Payment Summary (EPS) by the 19th of the following tax month. This will make sure HMRC don’t wrongly send you a penalty because they were expecting an FPS from you. This is also sent whenever a payroll has something to reclaim, such as Maternity/Paternity/Adoption pay or the new £2000 Employment Allowance company benefit.
HMRC provides a quarterly report describing how well all payroll providers RTI submissions are performing in terms of accuracy and we’re pleased to share Webroster’s results with you!
• Wispay EPS success rate on submissions was 99.53 % (better than the national average of 97.13%).
• Wispay FPS success rate on submissions was 98.83 % (better than the national average of 97.37%).
Across RTI as a whole the current success rate for Webroster’s Wispay Payroll system is 99.2% which is above the overall average success rate which stands at 97.25%.
Ian Knight, Webroster’s resident payroll expert stated: “Getting accurate, timely information to HMRC is an absolute must; severe penalties can be issued to companies that fail to provide information to the correct timescales. Employees themselves can also suffer if inaccurate data is stored by HMRC, especially if this data has an impact on the individual’s Universal Credit information.”