Real Time Information is the system HMRC uses for PAYE reporting, requiring employers to submit details of pay and deductions on or before each payday rather than at the end of the tax year.
Full Payment Submissions and penalties
Employers submit a Full Payment Submission through their payroll software each time they pay employees. Late or missed submissions can result in HMRC penalties.
Tax rules depend on individual circumstances and can change. This glossary is general information rather than personalised tax advice.