RTI and HMRC filing
RTI filing started in April 2013, over 8 years ago now! There were some issues at the start, and, 8 years later, it appears there are still some problems.As part of regular monthly management accounting, a wages posting document is prepared and posted each month to the accounting records. This posts gross pay, employers NI, Pension costs and tax and NI deductions and the net pay to balance goes to a control account. When payment is made, the net wages payments go to the control account and reduce the balance to Nil. The PAYE, when paid goes to the PAYE control, again to reduce the balance to Nil, as does the payment to the pension company.
This has balanced, month in, month out for months and months. One month where it appeared there was difference, was found to be due to a figure for SSP omitted from the posting document in error, and this was corrected the following month by adjusting the payment.
31 March 2021 accounts have been prepared and filed. However, there was cause recently to view the online PAYE account with HMRC. A payment of PAYE had been missed by the client somehow, so there was an interest charge arising – a not insignificant amount on a £40,000 liability. However, there was an apparent “difference” on the HMRC account of £984.35, which was allocated every month against the liability, with the apparent overpayment being carried forward each month to the next liability. Looking back, this first appeared to go awry in October 2020.