What is RTI and do I really have to report every single payday?

RTI (Real Time Information) is HMRC's system requiring employers to report pay, tax and National Insurance figures on or before each payday, not just at year end. In practice this means submitting a Full Payment Submission (FPS) through your payroll software every time you pay anyone, even if it's just you and one employee once a month. Missing or late FPS submissions can trigger penalties, so most small businesses find it easiest to run this through cloud payroll software or leave it to their accountant.