PeopleSoft HCM RTI Legislative Update for Global Payroll United Kingdom
By Carolyn Cozart on Sep 30, 2013
The HMRC announced changes to some of the requirements for submissions from April 2013 and published new versions of certain MIGs. These updates have been integrated into the PeopleSoft application as part of RTI 13-14 MIG Specifications for various file generation like EAS, FPS, EPS and NVREQ. All PeopleSoft Global Payroll United Kingdom customers will be required to comply with the legislative changes and complete migration to Real Time Information by October 2013 as stipulated by the HMRC. PeopleSoft Global Payroll United Kingdom provides these legislative changes to allow customers to start the migration process and for those customers chosen, take part in the pilot phase of the HMRC project.
Real Time Information will replace the EOY (End of Year) and In-Year Filing processes that currently exist and all employers in the United Kingdom will be legally bound / compliant by the date specified, October 2013.
PeopleSoft Global Payroll for United Kingdom products have been adding functionality along the way to support the requirements for Real Time Information known as RTI. A whitepaper outlining the changes that have been introduced by HMRC for the tax year 2013-14 (including the earlier Year Updates for 2012–13) is now available on My Oracle Support, Document ID 1586706.1. This document provides valuable information for UK based employers (including UK subsidiaries of overseas organizations) who plan to implement RTI in PeopleSoft Global Payroll United Kingdom to comply with HMRC regulations. We advise customers to review & keep up to date.