Paperless self-assessment on the way, says HMRC
HMRC’s decision to launch this self-assessment consultation should be welcomed as the next step on the road to completely paperless financial processes.
If implemented, paperless self-assessment would represent a really positive move for the industry, cutting out duplication, reducing the risk of lost or misfiled documents and decreasing storage costs. By eliminating outbound paper communications for customers already engaging with HMRC online and expanding the offering to those customers who don’t yet file digitally, HMRC would be giving customers a complete end-to-end digital service and be making it as easy as possible for customers to interact with them.
To keep in line with this move to paperless processes and provide optimum value for clients, accountancy practices need to be able to offer fully-digital self-assessment solutions that allow them to file tax returns and accounts online while digitally storing all related correspondence.
We at IRIS know that cloud technology is already enabling accountants to work faster and collaborate more effectively with their clients without paper. We already have around 69,000 cloud subscribers and our integration of cloud-based tools such as secure document exchange and e-approval is transforming the traditionally hectic personal tax season for users. These tools enable great time savings, as well as eliminating the need for a paper trail. By enabling the digital process to extend from client to accountant and then to HMRC, we offer an invaluable service during peak filing periods.