The expansion of online filing of tax returns

The expansion of online filing of tax returns PDF Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102969979
Category : Business & Economics
Languages : en
Pages : 40

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Book Description
HMRC's programme to increase online filing of tax returns has made significant progress. HMRC was set an ambitious timetable to expand the use of online filing and now more than 11.5 million customers a year are submitting one or more tax returns online, generating significant savings. Take-up rates have increased significantly, particularly after mandatory online filing requirements have come into force. Nevertheless, take-up rates on some taxes (VAT, Corporation Tax and Self-Assessment) have been below original forecasts and HMRC has lowered its forecasts in the light of take-up achieved so far. Customers generally recognise the efficiencies and practical benefits that online filing offers although HMRC has yet to measure whether the anticipated benefits and costs to customers are being achieved in practice. Some users have concerns about the costs and usability of filing VAT and Corporation Tax returns online, and about delays in getting login details to access the Self-Assessment online service during peak periods. Levels of satisfaction with the assistance offered through various helpdesks also vary. Online filing is delivering significant savings to HMRC, an estimated £126 million so far. HMRC cannot demonstrate whether it is maximising benefits as it does not yet fully understand the relative costs of dealing with paper and online returns or the costs and benefits of seeking greater take-up.

The expansion of online filing of tax returns

The expansion of online filing of tax returns PDF Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102969979
Category : Business & Economics
Languages : en
Pages : 40

Get Book

Book Description
HMRC's programme to increase online filing of tax returns has made significant progress. HMRC was set an ambitious timetable to expand the use of online filing and now more than 11.5 million customers a year are submitting one or more tax returns online, generating significant savings. Take-up rates have increased significantly, particularly after mandatory online filing requirements have come into force. Nevertheless, take-up rates on some taxes (VAT, Corporation Tax and Self-Assessment) have been below original forecasts and HMRC has lowered its forecasts in the light of take-up achieved so far. Customers generally recognise the efficiencies and practical benefits that online filing offers although HMRC has yet to measure whether the anticipated benefits and costs to customers are being achieved in practice. Some users have concerns about the costs and usability of filing VAT and Corporation Tax returns online, and about delays in getting login details to access the Self-Assessment online service during peak periods. Levels of satisfaction with the assistance offered through various helpdesks also vary. Online filing is delivering significant savings to HMRC, an estimated £126 million so far. HMRC cannot demonstrate whether it is maximising benefits as it does not yet fully understand the relative costs of dealing with paper and online returns or the costs and benefits of seeking greater take-up.

Electronic Tax Administration

Electronic Tax Administration PDF Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Electronic filing of tax returns
Languages : en
Pages : 68

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Farmer's Tax Guide

Farmer's Tax Guide PDF Author:
Publisher:
ISBN:
Category : Agriculture
Languages : en
Pages : 108

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Self-employment Tax

Self-employment Tax PDF Author:
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 12

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Income Averaging

Income Averaging PDF Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Income averaging
Languages : en
Pages : 8

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Tax Withholding and Estimated Tax

Tax Withholding and Estimated Tax PDF Author:
Publisher:
ISBN:
Category : Tax revenue estimating
Languages : en
Pages : 56

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Filing VAT and company tax returns

Filing VAT and company tax returns PDF Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102944020
Category : Business & Economics
Languages : en
Pages : 44

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Book Description
Value Added Tax (VAT) and Corporation Tax raised around £120 billion in revenue in 2005-06. Some 1.8 million businesses are registered for VAT and 1.8 million companies registered to file Company Tax returns, which cover their liability for Corporation Tax. This report examines the performance of HM Revenue & Customs in securing and processing VAT and Company Tax returns from businesses which should submit them. It covers: getting the returns in on time; efficiency in dealing with the returns; customer service and the compliance burden on businesses making returns. Over the last three years the number of Company Tax returns filed on time has remained broadly stable at 77 to 79 per cent and VAT return compliance rate has stabilised at 85 per cent. The Department does not have readily available information on the total number of Company Tax returns outstanding from all previous years. It also does not know the potential tax liability arising from all missing returns. At least £1.5 billion of tax is in doubt from late and non-filed VAT and Company Tax returns. The level and the way in which penalties are applied for late filing for the two tax returns has not proved effective in further improving compliance. The report finds online filing of returns could improve efficiency, and welcomes reduction in staff costs and improvements in customer service. The NAO make a number of recommendations, which may be implemented quickly and at low cost, aimed at yielding efficiency savings, reduce tax at risk, and improve the Department's progress towards its targets.

Your Federal Income Tax for Individuals

Your Federal Income Tax for Individuals PDF Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Income tax
Languages : en
Pages : 234

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Individual retirement arrangements (IRAs)

Individual retirement arrangements (IRAs) PDF Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Individual retirement accounts
Languages : en
Pages : 284

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Medical and Dental Expenses

Medical and Dental Expenses PDF Author:
Publisher:
ISBN:
Category : Income tax deductions for medical expenses
Languages : en
Pages : 20

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