OTS publishes review into impact of technology on taxation

The Office of Tax Simplification (OTS) has published a review into the impact of technology on UK taxation.

27 Feb 2019

The Office of Tax Simplification (OTS) has published a review into the impact of technology on UK taxation.

The review analyses how technology creates opportunities and poses challenges for UK taxation.

According to the OTS, technology could pose a risk for taxpayers in the future. The OTS argues that the use of technology to submit returns will not 'remove the need for individuals and businesses to understand and comply with their tax obligations'.

The review puts forward some key points for the government to consider in regard to the impact of technology on taxation. The OTS recommends expanding the current personal tax account (PTA), and automatically enrolling taxpayers into the service; mitigating the risk of taxpayers 'losing sight of their tax obligations' through the use of technology; and monitoring the impact of the movement towards a cashless society.

Commenting on the issue, Paul Morton, Tax Director at the OTS, said: 'Technology has transformed much of our day-to-day lives, in some areas almost beyond recognition. Although many tax-related activities have benefitted from a digital approach, we are still at the early stages of the potential transformation.

'This paper explores some of the more difficult questions that new technology presents.'

The review can be read in full here.

Free Consultation

Get in touch with us today for a fresh perspective and a free consultation.

Connected Accounting logo

Providing simple to understand accounting services for private and business clients with a hands-on approach. Building strong long-lasting relationships that you can trust.

Connected Accounting Limited | Registered Number: 09617704 | Registered Office: St Albans office

St Albans

Contact Details

St Albans Office:
Connected Accounting, 2 Victoria Square, Victoria Street, St Albans AL1 3TF .

Call us: 01727 537 160

2021 WFA Winners

Reviews and Ratings for Accountant Samuel Troy, Tonbridge
Home | Our Pricing | Resources | Contact us | Accessibility | Disclaimer | Privacy | Help | Site map | © 2024 Connected Accounting. All rights reserved. We use cookies on this website, you can find more information about cookies here.