HMRC need to receive information about what you have paid your employees. The way HMRC receive this information is via RTI submissions.
RTI stands for Real Time Information, and the submissions are made to HMRC on or before the date your employees are paid. Submissions include various pieces of information, such as employee pay and deductions along with details of any statutory payments, Apprenticeship Levy payments, CIS deductions, and more.
This information is submitted as an FPS (Full Payment Submission) and/or EPS (Employer Payment Summary) depending on the information which is being reported to HMRC. There are deadlines in place for submissions, and you can receive a penalty from HMRC if the deadlines are not adhered to.
Here at Pro Payroll Services, we ensure that all submission deadlines are met so that you do not receive any penalties from HMRC.