New Digital Initiatives for 2016-2017 from the HMRC
The new digital initiatives from the HMRC are worth looking at as the digital landscape is incorporated to encourage a more expedient service and user friendly environment. This is known as HMRC’s Making Tax Digital which will be achieved by 2020.The Digital initiatives that have been added by HMRC are as follows.1. A personalised digital account will need to be used by business to manage all tax matters2. Businesses whose income is below £10,000 will not need to use the new Make Tax Digital system3. 12 months’ leeway will be given to businesses before the digital tax system becomes mandatory4. HMRC website will move to GOV.UK5. Agents will be able to use Online Self Service6. A Twitter account @HMRCBusiness will be used to help small businesses7. The Twitter account @HMRCCustomers account provides Q&A’s for a variety of issues aimed at small businesses8. Smartphone apps developed by the private sector will help small businesses keep accurate up-to-date records of business income and expenses9. Live webinars and online seminars will be held at various times during the week and the weekends10. YouTube videos featuring quick guides for small businesses will be added regularly and will cover a wide range of issues11. E-Learning packages will explore subjects affecting the small business in a structured manner with tests available after units to increase confidence and long-term learningMany updates will be available regarding this new digital initiative in the next coming months.