The UK Inland Revenue is set to pilot a simplified version of the current tax return form next year, according to the Accountancy Online news service.
The new return, reduced from ten to just four pages, will be launched in two as yet un-named locations in the United Kingdom at the start of the next tax year, and will be aimed at target groups including self-employed workers with reasonably straightforward tax affairs, pensioners, and other taxpayers with income from more than one source.
Accountancy Online revealed on Monday that the 'pilot' form is being developed in consultation with the Low Incomes Tax Reform Group, and representatives of the tax advisory industry, and may contain fewer requests for information on investment income, property, and capital gains tax.
However, the Inland Revenue has clearly learned from bitter experience over the past few years not to herald the arrival of new innovations until they have been thoroughly tried and tested. (Online filing, anyone?)
Speaking following the announcement of the planned launch, Deputy Chairman of the Inland Revenue, Ann Chant told Accountancy Online: 'Frankly we'll see how it goes and make improvements in the light of experience.'
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