You may have read about the government’s new on-line tax account. We believe that this is the first stage in building a system by which almost everyone will effectively provide the information so-far provided on a tax return but sooner. One thing we can be certain of is that it will not help taxpayers!
Under the new system, HMRC will gather your tax return information quarterly throughout the tax year, so that you do not need to complete a full return at the end of the year. However, this will not collect all the necessary information and it is quite likely there will be errors in the information gathered, particularly in the early years, so you will need to check your digital account carefully.
To find out more, call us on +44(0)330 024 3200 and speak to one of our personal tax experts.