The government are putting in place a system to replace the outdated tax return. This system enables individuals and businesses to create “Digital Tax Accounts”. This has been created as a way of modernising the tax system.
Much like an online bank account you will have all your details in one place and you will be able to access your data from a range of devices.
This new tax system means that HMRC are responsible for more of the paperwork meaning that you don’t have as much to do.
The change will enable your accounting package to integrate with your “Digital Tax Account” meaning you can even “pay as you go”.
For more information and for HMRC’s free whitepaper click here.
If you would like to speak to a Consultant about how this affects you, call us today on: 0161 850 3355