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RTI is being introduced - I understand that and fully intend to be compliant. However, whilst I can see benefits to HMRC in them having details of what is being paid and the associtaed PAYE Tax due at the same time and more regularly, I have also seen claims that there are also benefits to small business, but nobody has been able to explain what those benefits are.
There have been some attempts to claim that one benefit is better record keeping for the business. Well, ok, if the business had poor record keeping prior to RTI, that may be the case, but I think that claim was more to do with using a software package, such as Sage, rather than a benefit of RTI itself.
I have also seen claims linking RTI to IR35, but I don't see the link. RTI tells HMRC nothing about whether contracts are inside, or outside of IR35, or what proportion of the companies income is paid through PAYE.
Is there anybody out there who can cut through the bullsh1t and actually tell me whether there are any real benefits to small businesses?
Alternatively can the poster(s) who keep making these claims actually admit that there are no benefits.
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