Nearly one in four of accountants intend to raise their payroll charges by more than 20% as a response to the arrival of Real Time Information (RTI), according to a recent survey of the profession.

The study of 222 UK accountants by IRIS Software Group, found that just under a quarter (24%) were planning on increasing their charges by more than a fifth, while 4% of respondents were planning a 50-100% hike. Overall, 62% envisage new revenue streams by supporting clients with their payroll reporting requirements.

More than a third (36%) of those polled, did however describe RTI as a 'headache' and a further 29% felt it was 'unnecessary red tape'. Despite, or perhaps because of, the concerns over the new legislation, over half (53%) stated that meeting the government's April 2013 deadline was one of their 'top priorities' for the next year.

Phill Robinson, CEO of IRIS, said: 'The upcoming payroll RTI changes are widely seen as the most significant reforms since PAYE was introduced in 1944, so it is imperative that practices start preparing now, particularly when it's clear that there are revenue opportunities from the additional services that accountants can provide to help support their clients through the changes.'