Company tax returns to go online
Tuesday 18 April 2006
Small businesses will be required to file their company tax returns and PAYE in-year forms online by 2010. In addition, new filing deadlines are to be introduced by 2008 for income tax self-assessment.
These changes come after a recent review of Her Majesty’s Revenue and Customs (HMRC) online filing services, which sets out a long term aim to have all business tax returns completed and filed online by 2012.
The streamlining of the online filing service is expected to benefit both businesses and taxpayers with savings of £175 million each year. However, HMRC will only implement the new measures when the IT systems that will allow efficient online filing are in place.
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