An investigation by the Institute of Chartered Accountants in England and Wales of digital tax systems in other countries has found that UK citizens risk overpaying their tax returns if they don’t become more savvy about their tax affairs.
The findings come as HM Revenue & Customs (HMRC), in an attempt to eradicate “bureaucratic form-filling” and eliminate “unnecessary time delays”, consults on plans to deliver a fully digital tax service by 2020. HMRC is looking to bring all individuals and small businesses onto the online system where information is automatically uploaded, thereby bringing an end to the conventional tax return.
At Beavis Morgan, our diverse team of tax professionals are committed to ensuring that your tax reporting obligations are fully satisfied and that every opportunity to lawfully exploit tax savings is made known to you, restructuring your affairs in a tax effective and efficient way.
If you have any concerns relating to your tax return or wish to discuss your tax affairs in further detail, please contact Alan Ford or your usual Beavis Morgan Partner.