RTI: DIY or accountant service?

[evilagent]

re: Real-Time Info

How many of you guys use an accountant to do yout RTI for salary, and how many do it yourselves?

New Tax Year coming up, and would like to know if its something I can do myself, or keep paying accountant to do.
(next tax year is most likely heavy on the development side, and light on recruiting, so SIC probably needs changing as well)

I suspect you pay a low salary, so there are no NI or PAYE implications, ie, easy, straightforward numbers, etc.

thanks

[DaveB]

re: Real-Time Info

How many of you guys use an accountant to do yout RTI for salary, and how many do it yourselves?

New Tax Year coming up, and would like to know if its something I can do myself, or keep paying accountant to do.
(next tax year is most likely heavy on the development side, and light on recruiting, so SIC probably needs changing as well)

I suspect you pay a low salary, so there are no NI or PAYE implications, ie, easy, straightforward numbers, etc.

thanks

RTI is easy.

The application needs some basic info entering to start with like your company PAYE code, NI number etc and you'll need your HMRC login details for your company, but once you have that sorted it's as simple as entering your salary in a box once month and clicking "submit".

It keeps a running total of PAYE liabilities (Zero if your using the usual low salary + Div scheme) and will track things like student loan payments etc as well if needed.

[DirtyDog]

My accountant includes it as part of the service, so they do it for me.

[Martin at NixonWilliams]

re: Real-Time Info

How many of you guys use an accountant to do yout RTI for salary, and how many do it yourselves?

New Tax Year coming up, and would like to know if its something I can do myself, or keep paying accountant to do.
(next tax year is most likely heavy on the development side, and light on recruiting, so SIC probably needs changing as well)

I suspect you pay a low salary, so there are no NI or PAYE implications, ie, easy, straightforward numbers, etc.

thanks

It is relatively straightforward however you should bear in mind the cost of the software aswell as the cost of your spare time etc.

I think it costs about £100 for a very basic package which must be relicensed annually, so if you are paying say, £5 per month to your accountant you might aswell stay as you are.

Having said that, as per DD's post, most contractor accountants include the payroll as part of an all-inclusive fee.

I hope this helps.

Martin

[kevpuk]

My accountant includes it as part of the service, so they do it for me.

+1

TBH, although it may not be one of the more complicated aspects of accounting, it is part of the all-in service my accountants provide

[DaveB]

It is relatively straightforward however you should bear in mind the cost of the software aswell as the cost of your spare time etc.

I think it costs about £100 for a very basic package which must be relicensed annually, so if you are paying say, £5 per month to your accountant you might aswell stay as you are.

Having said that, as per DD's post, most contractor accountants include the payroll as part of an all-inclusive fee.

I hope this helps.

Martin

The Basic PAYE Tools - RTI software is free from HMRC. If you're not doing anything complicated in terms of running your PAYE scheme or have more than 9 employees then you don't really need anything else.

[evilagent]

currently my accountant adds £90pa for payroll.
but they are wanting £10 per each submission, as its "real time", plus £2.50 per payslip.

Mind you, the overall fees are quite low, as my business model is straightforward.

Had a look on hmrc site, and the hmrc has a list of approved freebie systems.
anyone use/recommend any of them?

Think I'll just pay and let accountants deal with it, but just wanted an idea if its simple to do myself, or not bothering to learn.

[Martin at NixonWilliams]

The Basic PAYE Tools - RTI software is free from HMRC. If you're not doing anything complicated in terms of running your PAYE scheme or have more than 9 employees then you don't really need anything else.

Thanks, I wasn't aware of this. We have software of course, at the time RTI was first announced they were warning all employers to ensure they had relevant software. I didn't realise this had changed since.

Now I feel bad on my friend who does his own accounts, after I told him to fork out £100 on Sage payroll early last year

[DirtyDog]

The Basic PAYE Tools - RTI software is free from HMRC. If you're not doing anything complicated in terms of running your PAYE scheme or have more than 9 employees then you don't really need anything else.

Less than nine, surely?

[evilagent]

HM Revenue & Customs: Choosing HMRC recognised PAYE software

just downloading BrightPay freebie.
as its free for my circumstances, I will run it in parallel and see if its stable against my accountant!