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Making tax digital, HMRC guidance and the tax gap

A key aim of the Making Tax Digital service is to ‘close the tax gap due to errors with people making their VAT returns’, according to HMRC. An alternative – and perhaps better – way to deploy technology to improve compliance is set out in an Office of Tax Simplification report. Better HMRC guidance, the OTS says, is likely to lead to more accurate tax reporting and ‘help to close the tax gap, as taxpayers should have a better understanding of HMRC’s view of the law’. Read more:

My article for Accounting and Business January 2019, published (free to view) by ACCA.