Accounting

Busting the myth – Digital Tax System

digital tax

The HMRC has issued a myth-busting mini poster to allay the fears of self-assessed tax payers who might be moving on to the new digital tax system.

Essentially, it wants to assure those affected that the new system will be a simplification of the current one.

Contrary to what is being bandied around, full returns are not expected four times a year – what is expected is a continuous update of personal online tax accounts throughout the year. At quarterly interval, all that is needed is a click on the ‘send’ button to bring records at HMRC up to date.

Sounds pretty simple…

The poster is HERE.

About Phoenix

Accountant | Tax Specialist | Dreamy Entrepreneur | Blogger

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