Making Tax Digital

Tax Moves to a New Digital Age

Let’s Make Sure You Are Ready

The world’s media have long-heralded a “New Digital Revolution” which will change the way we work, shop, communicate and live.  Most of us use digital resources in our everyday life, accepting and embracing them as pivotal in the 21st Century.  From online banking to internet shopping to social media – we are better connected and better informed than any other generation in human history.

However, some have expressed an element of scepticism when taxation enters the “Digital Revolution” equation.  This concern is linked to the Government announcement back in March 2015, in which it declared to the nation that it was overhauling its tax administration to “Make Tax Digital”.  The Chancellor stated that he was looking to invest and create the most advanced tax administrative system in the world.

MP David Gauke, Financial Secretary to the Treasury recently announced to the UK Taxpayer:-

“This Government is bringing the digital revolution to Whitehall – ensuring that the services it provides are similarly transformed. The tax system is no exception. During this Parliament, HMRC will make fundamental changes to the way the tax system works — transforming tax administration so it is more effective, more efficient and easier for taxpayers.”

The media “chatter” and taxpayer discussion regarding the “revolutionary system” soon followed, reiterating concerns about the government’s use of the words “efficient” and “ease”. 

What Exactly is Making Tax Digital?

We at WHA are fully knowledgeable of the proposed changes and have put together specific points regarding its timeframe, administration and how we can support you as our client.