HMRC quarterly tax returns slammed

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HMRC quarterly tax returns slammed Independent HMRC oversight body, the Administrative Burdens Advisory Board (ABAB), has refused to support the Government’s plans to force small businesses to submit quarterly digital tax returns saying: “compulsory digital record keeping and quarterly online updates is not an approach we can endorse.”

The ABAB has used its annual report to underline “significant concerns” shared by the Federation of Small Businesses (FSB) that, “the proposals for quarterly updates will be more burdensome than they currently are with increased record keeping and compliance costs.”

The stark criticism from the ABAB adds to growing concerns about HMRC’s plans to mandate smaller businesses to move to the untested digital tax returns platform.

Federation of Small BusinessesThe ABAB report highlighted “reservations around the current capability of software being able to deliver HMRC’s vision and the appetite amongst small businesses to utilise them.” The ABAB was also very critical of the decision to announce the policy without consultation or warning in the 2015 Autumn Statement, saying: “We were surprised and disappointed when this was announced at Autumn Statement, particularly that given our close engagement and relationship with HMRC we were not informed of the intentions earlier.”

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