Partner Article

Technology to meet demand of online tax returns

IT experts in the West Midlands say technology and security are in the ‘right place’ to make the Chancellor’s decision to move tax returns online feasible.

George Osborne announced in his final budget before the General Election in May that the system would be up-and-running by 2020 and it would allow companies to upload information in ‘real time’ and also to link it to their accounting software.

Simon Gee has recently moved to Coleshill-based IT company ACUTEC and has a background in accountancy software and systems.

He said small businesses would welcome the move and that the Government was implementing it at a time when technology and security are ready for it.

Simon said: “It’s a move that will be broadly welcomed because anything that simplifies tax returns for businesses – especially smaller companies – will be seen as positive.

“Technology is where it needs to be to make this happen and security is where it needs to be too. We are in the right place from that point of view and it’s right that we use IT to its full capability.

“We live in a world where business owners are on the move and this change means that they don’t necessarily need to be in the office to sign things off. On that point, there has to be authentication in place as part of this process but I am sure that will have already been considered.

“I guess some will ask why it is taking five years but the Government has to get this right. When it introduced online VAT returns there were issues with the website and then it was impossible to communicate with them when something went wrong.

“Business has to have absolute confidence in the system and teething problems will have to be kept to a bare minimum.

“It makes sense to link it through from accounting software because it means businesses won’t be filling out the same pieces of information twice.

“On the whole, this is a positive move and really does highlight how the advance in technology can continue to bring new benefits to business.”

This was posted in Bdaily's Members' News section by Matt Joyce .