Tax going digital in time for 2020 » SMEInsider

Tax going digital in time for 2020

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Personal tax accounts will be available online to the British public from mid-December as part of the government’s £1.3 billion investment in digitising HMRC.

The accounts are intended to offer taxpayers a joined-up view of their tax position, enabling instant updating of their information, alongside new services such as ‘web chat’ and a ‘virtual assistant’.

 

Digital easing access for SMEs

The announcement comes as part of the ‘Making Tax Digital‘ launch by financial secretary to the Treasury David Gauke at HMRC’s stakeholder conference in London – with HMRC aiming to offer a fully digital tax service by 2020.

“Giving customers the ability to manage their tax affairs online is our latest step towards a fully digital tax system. This government is determined to revolutionise how we deliver public services and the tax system is no exception,” said Gauke.

 

A ‘world-leading tax adminstration’

“By 2020, HMRC will be a world-leading tax administration that is efficient, effective and easier for customers to use, enabled by £1.3bn of extra investment announced in November’s Autumn Statement.”

There are four key planks to the Making Tax Digital offering:

  • Tax simplification
  • Tax all in one place
  • Making tax digital for individual taxpayers
  • Making tax digital for businesses

Advisers have previously questioned the ambitious timetable that had been set to digitise the tax system, warning that HMRC has a less than impressive record of managing and implementing IT projects.

This article first appeared on our sister site Accountancy Age.