On the assumption that nothing goes wrong, HMRC believes that every individual and small business would have access to their own secure digital tax account next year.
HMRC's "brave" step towards a digital future will theoretically pave the way for the automatic uploading of the information needed by HMRC leading to what it described as “the end of the tax return for millions of taxpayers”.
During 2016, information on bank and building society interest will start to be included in tax codes, removing the need for many taxpayers to report this income separately in a tax return.
The new personal tax accounts are aimed at providing a joined-up view of individuals’ tax and benefits, allowing them to update their tax details as needed and making it easier to contact HMRC officials through services like web chat.
David Gauke, financial secretary to the Treasury, said the new accounts were part of a digital transformation aimed at making the tax system more effective, more efficient and easier for taxpayers.
As per the FT:
“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.”Well then, let us see how this pans out in reality shall we?
Tax does have to be taxing.
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