What is RTI?
Real Time Information (RTI) is a process implemented by HMRC that requires employers to submit their pay information, in real-time.
You must submit a Full Payment Submission (FPS) no later than payday and, if applicable, an Employment Payment Summary (EPS) no later than the 19th of the following month.
For a more detailed explanation of RTI, please refer to our Help Centre article.
When do I need to send a final RTI submission?
There are two circumstances when you'll need to send a final submission:
At the end of the tax year.
Your company ceases to trade and therefore closes its PAYE scheme.
For further information about what to do if your company ceases trading, please refer to our Help Centre article.
Final submission of the tax year
When you send your final RTI submission of the tax year, which can be either your FPS or your EPS, HMRC requires an indicator on your final submission to confirm this is the last submission of the tax year. PayFit automatically applies this indicator for you.