By LuciaC-Oracle on Dec 20, 2012
HMRC (Her Majesty’s Revenue & Customs), the tax authority for the United Kingdom, is changing the way Employers report Employees' Tax, National Insurance and Pay information. The changes will be mandatory from April 2013.
Real Time Information (RTI) will collect information about tax and other deductions automatically each time employers run their payroll. This could be monthly, weekly or fortnightly. The information will be submitted automatically to HMRC at the same time as the employees are paid.
The RTI project has 4 distinct areas that require development work to be undertaken by all software developers including Oracle. These are:
- Employer Alignment Submission (EAS)
- NINO Verification (Request and Reply) (NVREQ & NVREP)
- Full Payment Submission (FPS)
- Employer Payment Summary (EPS)
Please reference Doc ID 1491335.1 for the latest RTI project status updates and patch availability.