GAITHERSBURG, MD (PRWEB) April 25, 2013
GXS, a leading provider of B2B integration services, today announced that it can help companies achieve compliance with the new UK payment and pension reporting requirements that were announced by HM Revenue & Customs (HMRC) on April 4. Using GXS, organizations of all sizes, from SMBs to large corporations, can access a wide range of solutions that use electronic data interchange (EDI) to easily comply with the new real-time filing process.
On April 6, HMRC changed its Pay As You Earn (PAYE) system to require that companies move from filing returns on an annual basis to filing them before or at the same time as wages are paid, referred to as Real Time Information (RTI). As an established method of data exchange with the UK government for a number of years, EDI is an approved method to provide this information.
“Companies are still unsure how to meet RTI requirements while keeping costs down and avoiding disruption to their business,” said Nigel Taylor, head of e-Invoicing at GXS. “Many don’t realize the EDI they already use to exchange data with their customers and suppliers will also help them meet the new requirements. And, using EDI for RTI, their service provider can extract the data from human resource systems and convert into the correct format expected by HMRC.”
RTI is another step since the 2012 Pension Reform Act, requiring every organization in the UK to provide a workplace pension for its employees. Companies now need to consider payroll and pension reforms together to administer the government’s new Universal Credit (UC) scheme that will come into effect in October 2013.
GXS is a leading B2B integration services provider and operates the world’s largest integration cloud, GXS Trading Grid®. Our software and services help more than 550,000 businesses, including 22 of the top 25 supply chains, extend their partner networks, automate receiving processes, manage electronic payments, and improve supply chain visibility. GXS Managed Services, our unique approach to improving B2B integration operations, combines GXS Trading Grid® with our process orchestration services and global team to manage a company’s multi-enterprise processes. Based in Gaithersburg, Maryland, GXS has direct operations in 20 countries, employing more than 2,800 professionals. To learn more, see http://www.gxs.com, read our blog at http://www.gxsblogs.com and follow us on Twitter at http://twitter.com/gxs. You can also access our public filings with the Securities and Exchange Commission at http://www.sec.gov/edgar.shtml.
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