HMRC Real Time Information
The process around Pay as you Earn (PAYE) is changing
Real Time Information (RTI) has been proposed by the HM Revenue and Customs (HMRC) as a way to improve the operation of the PAYE system in the UK by collecting PAYE information in real time with payment instructions.
What is changing?
In a nutshell, the requirement to send PAYE information to HMRC is to become more regular, with more information being request too. Every time a payment is made, QMUL will be required to submit the appropriate tax and personal information across to HMRC. This change is known as RTI
Benefits of RTI
RTI will facilitate consolidated and automated tax reconciliations for individuals and will support benefit reform in the shape of the Universal Credit.
What do I need to do?
Providing QMUL and HMRC with accurate details about yourself helps make sure that you are paying the correct amount of tax and National Insurance Contributions (NICs). It also helps to protect your entitlement to certain state benefits and State Pension.
If you think that your details are out of date (e.g. your home address has changed), please log onto MyHR on https://myhr.qmul.ac.uk/ and update your record.
A factsheet from HMRC explaining the type of information required and how it should appear can be found here: http://www.hmrc.gov.uk/rti/dip/dip005.pdf
Who should I contact for more information?
Please contact HR administrators. You can find out the correct contact for your department here: http://www.contactwho.hr.qmul.ac.uk/