Altus

In 2006, Lord Carter set HMRC the challenge of universal electronic delivery of business tax returns by 2012. In response, HMRC are introducing electronic filing services via the Government Gateway for all tax reporting regimes and increasingly making their use mandatory by phasing out paper returns.

However, there are still some issues for HMRC to resolve. Some key returns (for example Pensions Relief at Source and ISA Annual Return) must still be returned via the archaic ‘magnetic media’ format typically delivered on CD. Following some highly publicised data security failings and the subsequent Poynter review, HMRC are developing plans to move these to the more secure Government Gateway route.

Whilst some companies view e-filing mandation as an additional regulatory burden, many recognise that it is also an opportunity to streamline processes and improve data security. The question for these companies is no longer whether to adopt e-filing but how best to make use of the available services.

Altus is helping companies introduce common reporting processes across all reporting regimes with our HMRC reporting product, the Altus e-filing Gateway. See our products range for further information.