Call us: 0121 414 1422 | e-mail: [email protected]
27 Odell Place, Edgbaston, Birmingham, B5 7RG
Nutwood Business Services | Making Tax Digital
Birmingham based Accountants that specialise in Corporate Tax Return and Agricultural Accountants services in Birmingham, West Midlands. T: 0121 414 1422
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Making Tax Digital

Home > Making Tax Digital

In 2015 the Government announced that HMRC would be proceeding with plans to ‘Make Tax Digital’.

For all taxpayers, whether individuals or incorporated businesses, each tax payer will have a ‘digital account’ which will receive information about things that HMRC already knows about us , from banks and other payers of interest or dividends, from employers paying wages and benefits in kind and so on together with information supplied direct by businesses to their own ‘Digital Tax Account.

For this grand scheme to have any prospect of success most businesses will need to use commercial accounting software with the necessary permissions and protocols to communicate directly with HMRC’s system on at least a quarterly basis.

At present various trials are taking place with the current plan being that everyone should be incorporated on the scheme from July 2018.

We are currently evaluating various software options for clients and will be making recommendations in due course.

For further information from HMRC click here

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