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Taxation: Self-assessment

HM Treasury written question – answered on 4th March 2016.

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Photo of Helen Goodman Helen Goodman Labour, Bishop Auckland

To ask Mr Chancellor of the Exchequer, what his estimate is of the average cost to (a) self-employed people and (b) small businesses of moving from annual to quarterly digital tax reporting by 2020.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

I refer the honourable Member to my response of 11 January 2016 (with references 20876 and 21032).

In the longer term we expect these changes will lead to a reduction in business administration costs. Updating HM Revenue and Customs (HMRC) through software or apps will deliver a light-touch process, much less burdensome and time-consuming than it is today.

HMRC will produce an initial draft impact assessment alongside the formal consultation process, which will start this spring. As with any other tax measure, a detailed assessment of the impact on administrative burdens will be published alongside draft legislation, expected to be in December 2016.

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