Tax is entering the world of electronic data. In the UK from the 1 April 2011 all corporate tax returns will be filed in an electronic tagged format. The existence of such a large volume of tax data will present opportunities to use the tools and techniques of data analytics to create a new discipline ‘Tax Data Analytics’. This can enable practitioners to quantify the tax benefits available to them, to eliminate manual investigation of fact patterns, to assess possibilities and to decide where to focus resources for maximum benefit quickly and effectively.
