More than 1.5m employers will be told by the taxman this week that time is running out for them to be prepared for the biggest reform in business tax since the start of PAYE 70 years ago.

HM Revenue & Customs says the programme is on track and “going well” but there is concern that many businesses are either unaware or are not prepared for the upheaval and that there will be more than the usual teething problems associated with major data changes. The introduction of Real Time Information in April means every employer will have to provide more information about tax and National Insurance deductions. They will have to send details to HMRC every time they pay an employee at the time any payment is made. The taxman is hoping to reduce a £3bn payments backlog. However, research shows that the full implications have yet to register with many companies. A Federation of Small Businesses survey of 1,700 members showed a quarter did not know about the changes and only 16pc were prepared. Business adviser David Heaton of tax firm Baker Tilly is questioning estimates about the size of savings and points out that many micro-businesses do not use computers, now essential to cope with the reforms..........Read more here