WE'RE AVAILABLE
Mon - Fri: 9am - 5:30pm
CALL US NOW
0113 887 8432
January 5, 2016
By:

Digital Tax Backlash

Under the Government’s plans to create ‘a modern and fairer tax system’, most businesses, self-employed people, and landlords will be required to update their tax affairs at least quarterly via digital tax accounts with HMRC from 2020.

This is part of the Government’s wider commitment to transform the tax system by removing the annual tax return in favour of personalised digital tax accounts for all individuals and business.

The changes were announced on page 71 of the Spending Review and Autumn Statement published in November last year.

Resistance has emerged with a petition calling on the Government to ‘Scrap plans forcing self employed & small business to do 4 tax returns yearly’ receiving over 104,000 signatures at the time of writing.

Opponents claim the changes will result in an undue burden of administration, increasing the costs of compliance to individuals and businesses.

The Government has already issued a response emphasising that updating tax affairs digitally on a more regular basis is a light-touch process not equivalent to doing an annual tax return.

Petitions that receive more than 100,000 signatures will be considered for a debate in Parliament. The Petitions Committee has yet to announce a debate date.

The petition and the official response can be found at:
https://petition.parliament.uk/petitions/115895

Contact us today to discuss your tax requirements.
CONTACT US
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram