End-of-year paper tax returns will be scrapped in favour of “real-time” online accounts by 2020, Chancellor George Osborne announced.
The Budget confirmed plans to switch to “digital tax accounts” by 2020, ending the annual rush to file a tax return.
Instead, individuals and small businesses will submit accounts throughout the year via computer, tablet or smartphone.
Mr Osborne called it “a revolutionary simplification of tax collection”.
People will be able to pay their tax at any point throughout the year.
They will ...Continue Reading →