‘Live’ online tax accounts set to kick off

'Live' online tax accounts set to kick off

Taxpayers will be able to have a 'web chat' with HMRC from later in the month, as a more real-time tax system is set to be launched

PERSONAL TAX ACCOUNTS will be available online to the British public from mid-December.

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’.

The announcement comes as part of the ‘Making Tax Digital‘ launch by financial secretary to the Treasury David Gauke (pictured) 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.

“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.

“I’ve yet to see HM Revenue & Customs display any capability whatsoever that it would be able to cope with monthly figures,” Elaine Clark, founder of CheapAccounting.com, told Accountancy Age in March.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource