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\u2019s Making Tax Digital which will be achieved by 2020.<\/p>\n
The Digital initiatives that have been added by HMRC are as follows.<\/p>\n
1. A personalised digital account will need to be used by business to manage all tax matters<\/p>\n
2. Businesses whose income is below \u00a310,000 will not need to use the new Make Tax Digital system<\/p>\n
3. 12 months\u2019 leeway will be given to businesses before the digital tax system becomes mandatory<\/p>\n
4. HMRC website will move to GOV.UK<\/p>\n
5. Agents will be able to use Online Self Service<\/p>\n
6. A Twitter account @HMRCBusiness will be used to help small businesses<\/p>\n
7. The Twitter account @HMRCCustomers account provides Q&A\u2019s for a variety of issues aimed at small businesses<\/p>\n
8. Smartphone apps developed by the private sector will help small businesses keep accurate up-to-date records of business income and expenses<\/p>\n
9. Live webinars and online seminars will be held at various times during the week and the weekends<\/p>\n
10. YouTube videos featuring quick guides for small businesses will be added regularly and will cover a wide range of issues<\/p>\n
11. 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 learning<\/p>\n
Many updates will be available regarding this new digital initiative in the next coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"