The current PAYE system is changing. The new system will be known as ‘PAYE Modernisation’. This change will be the biggest to hit PAYE since it was introduced almost 60 years ago. PAYE Modernisation will affect every business across the country. Instead of submitting an annual P35, employers will now have to calculate and report their employee’s pay and deductions as they are being paid.
PAYE Modernisation will no doubt be a huge change for employers but ultimately, employers will see a benefit from the change. Here are some of the key benefits employers can expect to see from PAYE Modernisation -
We already have the relevant experience to ensure that PAYE Modernisation will be a seamless process for employers. In our BrightPay UK payroll software, we implemented what’s called RTI or Real Time Information which is a similar concept to PAYE Modernisation. Book a demo today to see what PAYE Modernisation will look like on your payroll software.