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 will need to keep extra records and the digitisation will cost a fortune
No additional records are needed for increased digitisation.
These changes will contribute to HMRC’s target to reduce business burdens by £400m ($571.8m, €524m).
For those who aren’t already keeping records digitally, there will be free software and clear, simple advice on how it can be used.
Tags: HMRC
