Her Majesty’s Revenue and customs (HMRC) has announced it substantial increase in digital submission with 97% self-assessment filers now filling their Tax returns online, from zero in the past.
HMRC, means Her Majesty’s Revenue and Customs, it said to be the Uk government department responsible both for collecting Taxes, National insurance contributions, and value-added tax VAT.
HMRC can also means Internal revenue Service (IRS) in the united states or the Canada Revenue Agency in Canada.
From the inception in 1996, self-assessment has been a primary means for self-employed property agent to declare their tax liabilities.
Moreover, every year, HMRC encountering the same challenge –on how to get millions of people to file their tax returns and pay any tax owed by 31 January. The answer was to create an online system that allows people to self-serve to meet their tax obligations.
The Self-assessment population is rising, with more than 12 million people expected to file a return. Approximately 6 million leave it until January to file their returns, which can cause delays.