An introduction to Payroll & RTI (2013/14)
The new 2013/14 payroll in FreeAgent enables employers to report PAYE information to HMRC in real time.
If you're an employer, from April 2013 you’re required to send details to HMRC every time you pay an employee, at the time you pay them. You may have already heard about Real Time Information or RTI – FreeAgent payroll is RTI-ready and will be able to send this information electronically for you.
FreeAgent calculates the PAYE and NI for both company employees and directors. You can then view or download your company payslips.
FreeAgent Real Time Information Payroll
FreeAgent supports both FPS (Full Payment Submission) and EPS (Employer Payment Summary). This means FreeAgent can make a standard payroll submission including payslips, starter and leaver information, and also handle any submissions made when no employees have been paid.
For our initial release we won’t be supporting the notifying of recovered statutory amounts and NIC compensation. We also won’t be supporting EAS submission (employer alignment submission) or EYU (earlier year update). We also don’t support some specialist payroll facilities – see the feature index for full details of what we do and don’t support.
If you pay staff via BACS
If you pay staff via BACS and have your own Service User Number (whether you use BACS Approved Solution Software or you pay indirectly via a BACS Approved Bureau) you will not be able to use FreeAgent to file RTI payroll. If you pay staff via BACS and do not have your own Service User Number you can use FreeAgent to file RTI payroll.
Preparing for Real Time Information Payroll
1. Register for PAYE Online
In order to use RTI and the new FreeAgent Payroll you will need to register for PAYE Online with HMRC.
2. Check the HMRC PAYE requirements
Learn more about getting your business ready to operate PAYE in real time with the HMRC guide - preparing to operate PAYE in real time.
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