Making Tax Digital
At the March 2015 Budget, the government set out the vision for a modernised tax system, replacing tax returns with digital tax accounts for individuals and small businesses, changing the way HMRC obtains and uses information and how customers will interact with them. Since then, HMRC have been developing the vision it set out and how they will deliver it.
In the Autumn Statement and Spending Review the government announced that it will invest £1.3bn in HMRC to transform it into one of the most digitally advanced tax administrations in the world.
HMRC have since followed this up on 14th December with the publication of “Making Tax Digital”, the document sets out the roadmap that was mentioned in March publication “Making tax easier:
The roadmap provides a relatively high level outline of how taxpayers’ experience of dealing with HMRC will develop between now and 2021. The roadmap also sets out the high level journey taxpayers and HMRC will go on over the next few years, including the public consultation will contribute to developing the detail of changes to policy and how it is implemented.
Source – http://www.gov.uk