Tag Archives: payslip printing services

How RTI will impact your business in 2013! RTI – Are YOU Ready?

We’ve recently been discussing RTI with our Payroll Manager customers and what impact they believe it’s going ot have on their business.

Comments range from “really unsure how the HMRC are going to be ready to take in such a potential mass of data each month or week”; “what about data integrity?” to “We don’t know how its going to impact our business”; and what additional administrative tasks will be required?”

What is RTI?

Real Time Information is a new system that is being introduced by the HMRC to fundamentally improve the operation of PAYE (Pay as You Earn) Currently PAYE return process is a manual procedure that happens annually; it is prone to error and inaccuracies – employers only find out at year end if they have deducted the correct amount of tax during the year.

RTI will result in this information being collected regularly when employers submit their payroll submissions.

Why is it changing?

The current PAYE system has been in place since it was introduced in 1944 making it 68 years old; operating unchanged and is the method used by employers to pay income tax and national insurance contributions (NIC).

Employers deduct payments from employees’ pay each week or month and for a large part; the current system works for the majority of employers and employees.

However, it has become prone to error, fraud and inefficiencies making it difficult for the HMRC to identify errors and assist employers and employees’ to resolve problems in a timely manner.

 

The RTI system will require employers to send data about PAYE, NIC and student loans every time they pay their employees rather than with their end of year tax return.

Why introduce RTI?

Simple. RTI should enable HMRC to respond to errors, improve the accuracy of payroll and reduce the probability of fraud.

Benefits of RTI

The government wants transparency of financial status and RTI will consolidate and automate tax reconciliations for individuals. It should reduce administrative costs of PAYE by phasing out annual employer returns and removing the need to submit P45 or P46 forms.

RTI will prevent identity fraud, reduce errors and overpayments in the current benefits and tax credits system which will ensure that individuals are taxed correctly through PAYE.

payroll print out

Concerns of RTI!

Small businesses will struggle to implement real time reporting the Public Accounts Committee has warned the HMRC; who must or will have to find a way of supporting businesses that do not  have electronic payroll systems in place.

Approximately 94% of employees receive earnings electronically but small businesses without electronic payroll systems and self-employed don’t submit monthly data to HMRC. How the HMRC intends to manage these employees is yet to be worked out.

How will it affect you?

Instead of submitting information once a year at Payroll Year End, employers will submit information electronically to HMRC for PAYE, NIC and student loans every time employees are paid.

When will it come into effect?

RTI will be phased in from April 2013 and will be mandatory for all employees from October 2013.

The system is being piloted from April 2012 and the current timetable published by the HMRC is as follows:-

  1. March 2011 – technical specification to be issued
  2. Oct 2011 – test system available to solution providers
  3. April 2012 – pilot customers submitting RTI (complete by Oct 2012)
  4. April 2012 – Large employers (25o+) to start RTI
  5. April 2012 – Medium employers (50 to 249) to start RTI
  6. Aug 2013 – small employers (<49) to start RTI
  7. Oct 2013 – all employers submitting RTI

What do I need to do?

To get your software right you will need to ensure your payroll provider is compliant so you can submit additional RTI information required along with Bacs payments.

Small companies will have access to the HMRC’s basic PAYE tools which will work with RTI free of charge.

Ensure your data payroll is right ensuring that the payroll details for your employees are fully up to date and in the right format for RTI:-

Name must be your full name and official forename(s) surname; no initials and in the correct order. Date of birth must be given in the format “DD/MM/YY”. National Insurance Number (NINO) must be given as two letters, followed by six digits and end with a letter which will be either A,B,C or D.

With every business in the UK expected to commence migration to RTI between April 2012 and October 2013 it makes sense to prepare your business. Taking control and adopting RTI early will enable you to understand what the impact is likely to be on your business and its payroll practices, ensuring that you continue to pay your employees and HMRC on time.

What do you think of RTI? How do you think its going to affect you? Who will pay for RTI?

Is RTI the Government’s way of getting much needed revenue into the treasury quicker than the current PAYE?

Drop by and leave a comment in the comment box below; we love to hear your opinion!

If all this all sounds like too much hard work or worrisome then contact Digital Print Management for independent and impartial advice on how to outsource your payroll.

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p60 Printing and how to manage it.

p60 printing solutions.

P60 printing time is looming fast for all Pay Roll Departments.

But fear not because help is at hand!

P60s  and p60 printing doesn’t have to be a cumbersome task that has to be managed internally.

Outsourcing this onerous task can free up the Pay Team department’s valuable time. 

How?

Simply outsourcing the process to an experienced outsource provider!

By taking your p60 datafile we remove the pressure to generate and distribute p60’s ahead of the annual deadline.

Once printed, we collate the p60s using our verification mailcare system ensuring that individual forms are checked and inserted accurately prior to despatch.

Outsourcing P60s; P45s; P11d’s can all be outsourced whilst you continue to manage and maintain the payroll printing internally.

Managing the processing and printing of P60s takes the responsibility away from you and places it firmly and squarely on the shoulders of the company fulfilling your P60s.

How does the process work then?

From the outset, we discuss with you your requirements, the layout and specific timescales and agree a time and date for you to send us a datafile.

In the first instance we receive a test file from you for us to evaluate. Upon agreed specification; proofs are created for you to sign off and approve. When you are ready and on the prescribed day, you forward a P60 datafile; which is proofed, signed off by you the customer and then the P60s are printed and despatched following our pre-agreed timescales.

I’ve never done this before, who will help me and what about security?

No need to be concerned! Our expert specialists will guide and keep you informed every step of the way. All data files are managed in a secure ISO27001 accredited facility with C&CCC (Cheque & Credit CCClearing Company) compliance.

Using a secure method of transmission (SFTP) a full audit trail is generated for each file and all the relevant and important steps are put in place to ensure compliance and data integrity.

I have data from different systems, how will you manage it?

We regularly receive data files from different I.T. systems or software even data files sent from multiple locations. As long as we are aware of this at the start of the project this can be integrated into the implementation process and managed appropriately.

How will you get the P60’s out to our employees?

You tell us what you want. We can either post them out or have the documents boxed and securely returned to a Head Office address. Or, we can post out and optimise the best postage discounts available; post to multi-branch locations for internal distribution.

But we process our payslips using pressure seal?

Again no problem you can have either format. If your employees are use to receiving pressure seal type payslips then we can send the same format for your P60s. Alternatively, if you prefer your P60s to be A4 and then inserted into envelopes we can manage that as well.

How do I know I can rely on Digital Print Management’s expertise?

Quite frankly you don’t and we can quite understand that you might be taking a big step into the unknown.

We understand the concerns and issues associated with outsourcing any project that is why we specialise solely in OUTSOURCING.

We are committed to ensuring that our customers get the right solutions you might say that it is a passion of ours making sure the customer gets what they want!

To make it easier we’ve written a few articles for you to browse which should help make selecting the right print partner easier!

There’s a selection on our blog, but we think these two will help! Why Outsource?  Top Tips to Consider before you Outsource?

For your p60 printing needs please contact Digital Print Management. Or call us for a free impartial discussion.

We focus on payroll, payslip printing and distribution so you can focus on business!

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Why Outsource Your Payslip Printing?

 

There are many benefits for a company considering outsourcing its payroll processing and printing.

Businesses face enough challenges on a daily basis and being able to streamline some of the internal processes is advantageous. One of the key areas is by outsourcing either payroll processing or payroll printing, or both because it affords the following benefits:

  • Cost reduction
  • Reduces the workload of the payroll department
  • Reliability – outsourced payroll processing and printing will speed up the process providing paper and electronic distribution of payslips
  • Expertise in payslip printing – assuming you select the right service provider
  • Flexibility to meet your needs over time and as the business grows
  • Speed and accuracy using pressure seal mailers
  • As the payroll is processed offsite there are no concerns with data integrity or data protection
  • Allied to the above are the provision of a full disaster recovery facility which means that your payslips will be processed and your data will remain totally secure
  • There is no expensive in-house I.T as expertise is provided by the incumbent supplier

How do you choose the right partner?

  • Do they have ISO27001 and can demonstrate secure processes and procedures?
  • Expertise – how knowledgeable about payroll systems and software is the service provider?
  • Can data be accepted from more than one source i.e. multi-files, multi-channels, multi-locations?
  • What mailing or distribution options are available by your managed service provider i.e. mailing, return to head office, electronic to email or online payslips
  • Offer the flexibility to meet your specific needs?
  • Can they demonstrate excellent customer service?

Find out more about payslip printing at Digital Print Management or call us.

Please call us if you are thinking about outsourcing your payroll printing and would like independent and free advice or email us.

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