The Personal Tax Account (PTAs) was the key stage to making tax digital and was introduced in December 2015 to allow the drive for on-line registration and the submission of individual tax returns through self-assessment. The principle being that the process would increase speed and ease of return.
On the back of the introduction, 850,000 customers completed self-assessment and filed by the 31st of January. However, statistics released in September revealed that fewer than one in five (16%) of taxpayers had come on-board with PTAs which, while not compulsory, form a major part of HMRC’s five-year plan to create ‘a tax authority fit for the 21st century.’
This year there’s push to get more people to sign up online and comes two months before this year’s deadline of the 31 January self-assessment deadline.
Through the push, HMRC want first time users to register for an activation code so they will be able to complete their tax return on-line as soon as possible so that their activation codes can be posted to them as they can take a couple of days to arrive.
More details are available here.
