HMRC has published its timeline for the introduction of digital tax accounts by April 2016 for individuals and a quarterly payment regime for all but the largest businesses by 2020.
HMRC has published its timeline for the introduction of digital tax accounts by April 2016 for individuals and a quarterly payment regime for all but the largest businesses by 2020. Making tax digital sets out HMRC’s digital tax roadmap which outlines that by 2020 HMRC plans to have have moved to a fully digital tax system.
The advantages are said to include the eradication of bureaucratic form-filling such that taxpayers should never have to tell HMRC information it already knows. ‘Unnecessary time delays will be eliminated’ with the tax system operating much more closely to ‘real time’ keeping everyone up to date and removing the risk of missed deadlines unnecessary penalties debts arising and...
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HMRC has published its timeline for the introduction of digital tax accounts by April 2016 for individuals and a quarterly payment regime for all but the largest businesses by 2020.
HMRC has published its timeline for the introduction of digital tax accounts by April 2016 for individuals and a quarterly payment regime for all but the largest businesses by 2020. Making tax digital sets out HMRC’s digital tax roadmap which outlines that by 2020 HMRC plans to have have moved to a fully digital tax system.
The advantages are said to include the eradication of bureaucratic form-filling such that taxpayers should never have to tell HMRC information it already knows. ‘Unnecessary time delays will be eliminated’ with the tax system operating much more closely to ‘real time’ keeping everyone up to date and removing the risk of missed deadlines unnecessary penalties debts arising and...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
