Many happy returns

With ever developing digital interfaces is it any wonder that the dreaded Tax Return’s (TR) days are numbered? Well, numbered certainly in terms of hard copy paper returns.

Anyone who submits a TR, whether this is professionals on behalf of clients to sole traders to anyone the Crown deems ‘should submit one’, will notice that HMRC web pages are littered with pictures of Smartphones and Tablets.

The importance of submitting returns is, of course, paramount for a healthy business and possibly even more so where a business encounters difficulties. This is because the Crown can often view non-submission of TRs as non-compliance and therefore less likely to agree to a business’s request for a ‘time to pay’ or a more formal voluntary arrangement until the missing TRs are submitted.

So whilst the requirement to submit a return is unlikely to disappear altogether it is important to recognise the opportunity for intermediaries to maintain a relationship with clients rather than simply hand over the responsibility to a piece of software bundled within an accounts package. In recognition of this, a number of intermediaries are giving consideration to developing their own ‘Apps’ to ensure client relationships are maintained.

If you wish to explore the implications of digital submission of TRs for your business or clients please feel free to contact us. EWS offer a free consultation.