Making tax digital: HMRC’s myth-buster
By Kirsten Hastings, 29 Jan 16
Horror stories have been rife since HM Revenue and Customs (HMRC) committed to transforming and digitising the UK tax system at the March 2015 budget. To allay fears the tax regulator has addressed some of the myths that have arisen.
MYTH: Businesses don’t want to do tax digitally
Millions of firms already manage their tax online.
- 99% of VAT returns,
- 98% of Corporation Tax, and
- 86% of Self-Assessment returns are done online.
Many taxpayers want more certainty over their tax bill and access to an in-year picture of their tax position, which their new digital accounts will provide.
Tags: HMRC
