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Online tax returns

Community Veteran
Posts: 2,280
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Registered: 04-08-2009

Online tax returns


HMRC has just announced that it is formally launching digital accounts for tax payers, to be fully working by 2020 (oh yeahHuh).
Quote
By 2020, most businesses, self-employed people and landlords will be required to keep track of their tax affairs digitally and update HMRC at least quarterly via their digital tax account. 

I wonder how this project will go compared to all the others!  Sad
6 REPLIES
Community Veteran
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Registered: 30-07-2007

Re: Online tax returns

Quote
fully working by 2020
Grin
fully working by 2020
fully implemented by 2020
fully specified by 2020
fully designed by 2020
fully costed by 2020
Well we've got a rough idea what we think we need by 2020 Roll eyes
Community Veteran
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Registered: 24-09-2008

Re: Online tax returns

2020 is going to be a busy year, ...............we've also been promised high speed broadband, smart meter installation and 2G mobile phone coverage for the same year.
reminds me of a cold war East German joke circ 1970's.
A man ordered a Trabant from a showroom, signed sealed and promised delivery in 1991. (twenty years away)
The man asked what date the Trabant would be delivered.
"In April" the salesman replied.
"Could you be more precise" asked the Man.
"17th"
"Morning or afternoon?"
"Afternoon - why do you ask?"
"We've been promised a telephone hook up in on the same day just didn't want them to clash"
Community Veteran
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Registered: 02-08-2007

Re: Online tax returns

They might also reach a decision on Heathrow/Gatwick that year.
Smiley
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Registered: 16-10-2014

Re: Online tax returns

Grin
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Registered: 01-08-2007

Re: Online tax returns

Quote from: nozzer
Quote
By 2020, most businesses, self-employed people and landlords will be required to keep track of their tax affairs digitally and update HMRC at least quarterly via their digital tax account. 


From that wording there is a threat to small businesses - if you can't do it every day, week or month get out of business and be a slave to the system instead.
While I can see some benefits of it being done on a more real-time basis, this is certainly going to make life difficult for many people too.
I need a new signature... i'm bored of the old one!
Community Veteran
Posts: 5,313
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Registered: 21-03-2011

Re: Online tax returns

If you are VAT registered you have to submit on-line VAT returns quarterly so this new proposal won't add too much work.
Now Zen, but a +Net residue.