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HMRC to demand more data from employers and business owners

Submitted by Sestini & Co | on Fri, 07/28/2023 - 11:30 | In digital tax, HMRC

The Draft Finance Bill 2023-24 includes a Policy Paper on ‘Changes to data that HMRC collects from customers’. If accepted, the changes will come into effect from tax year 2025-26.

Around 1.2 million self-employed businesses, 1.9 million PAYE-registered businesses, and 900,000 businesses which include shareholders of an owner-managed business, will need to submit the additional data.

Tags: HMRC, PAYE, Self assessment, Tax, UK tax