Following a period of consultation, a policy paper has been released detailing a number of upcoming changes to the data that HMRC collects.
These changes, which include a requirement for employers to provide more detail on employee hours via Real Time Information (RTI) reporting, are not expected to come into effect until the 2025/26 tax year, at the earliest.
It is expected that employers will need to report either contractual hours worked, where these are stable, or actual hours worked where staff are paid hourly, or where hours of work are irregular.
Separate guidance is anticipated in due course, which should hopefully detail exactly what is required of employers in this respect.
Whilst there is plenty of time to prepare, changes of this nature often require forethought and planning, as a result of needing to implement new processes.
Consequently, we would encourage employers not to leave it until the last minute to think about how they will comply with any new requirements.
We will be following developments in respect of these changes with interest, and will update our clients accordingly.
To talk to one of our friendly professionals about outsourcing your payroll, and freeing up your time to focus on the bigger picture, contact GH Payscheme today.
