Glossary · UK
What is RTI (Real Time Information)?
PAYE system requiring employers to report pay, tax and NI to HMRC on or before each payday.
Full Definition
Real Time Information (RTI) is the way employers report PAYE data to HMRC. Each payday the employer must submit a Full Payment Submission (FPS) showing employee pay, Income Tax, National Insurance, student loan deductions and pension contributions. Employer Payment Summary (EPS) is used to claim statutory pay recoveries or report nil payments. RTI feeds straight into HMRC records, Universal Credit awards and your Personal Tax Account. Late or incorrect FPS filings can trigger penalties from £100/month upwards. Introduced in 2013, RTI replaced the old end-of-year P35 / P14 returns.
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Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.