Digital Tax Accounts

Last Updated December 2015

Digital tax accounts will mark the end of the tax return.

By the year 2020, government will require most businesses and self-employed people to keep track of their tax affairs digitally and update HMRC on a quarterly basis via their digital tax account.

Those in employment or pensioners will not need to keep digital records, unless they have secondary income from self-employment that exceeds £10k per annum.

The government will be consulting on how it will deliver these changes during 2016.

Seperate consultations will cover a new tax payment process to support digital tax accounts and reform of the National Insurance Contributions for the self-employed.