HMRC’s ten-year plan for digitalisation of tax administration has MTD, the single customer record and the single customer account at its heart. Over that ten-year timeframe, the plan will have to adapt to accommodate new technology, decentralised finance, new ways of working, new taxes and unforeseen events like the covid-19 pandemic. These disruptors will force us to ask questions about the benefits of digitalisation for HMRC, businesses and citizens; about what we tax and how we tax it; about how citizen-centric the tax system can be and about the safeguards we will need over data.
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HMRC’s ten-year plan for digitalisation of tax administration has MTD, the single customer record and the single customer account at its heart. Over that ten-year timeframe, the plan will have to adapt to accommodate new technology, decentralised finance, new ways of working, new taxes and unforeseen events like the covid-19 pandemic. These disruptors will force us to ask questions about the benefits of digitalisation for HMRC, businesses and citizens; about what we tax and how we tax it; about how citizen-centric the tax system can be and about the safeguards we will need over data.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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