article_snippet: millions who currently have to complete self-assessment forms will work like online bank accounts and keep an up-to-the-minute record of all the tax someone owes or has paid.
article_snippet: New digital tax accounts are designed to end hassle for individuals but also boost business by significantly cutting down on red tape.
article_snippet: Individuals and firms can already choose to fill in Individuals and firms annual tax return online, but this is simply the paper form on a website.
article_snippet: HMRC information HMRC already holds on income – meaning many people end up with tax affairs that are out of date and incorrectly coded.
article_snippet: The digital accounts will allow such updates at any time.
article_snippet: It will mean users can see all the taxes users need to pay without having to complete a tax return, and pay taxes users owe when it suits users – by linking to users bank account so users can pay in instalments or by direct debit, for instance.
article_snippet: There will be particular advantages for businesses, which currently have to pay different taxes at different times, including VAT, corporation tax, income tax and National Insurance.
article_snippet: By early 2016, all five million small businesses and the first ten million individuals will have access to digital tax accounts.
article_snippet: all five million small businesses and the first ten million individuals will have one by the end of the next Parliament.
article_snippet: Those who have difficulty gaining access to the internet will continue to be allowed to submit paper returns, or be offered support.
article_snippet: The accounts will allow tax to be paid at any time and will radically simplify the payment of various levies for businesses.
article_snippet: Because the system will be automatically updated with information from employers, pension providers or banks, taxpayers will not have to submit duplicate information about taxpayers income.
highlights_snippet: Self-assessment forms will change and work like online bank accounts .
  
highlights_snippet: Accounts will allow tax to be paid at any time simplify business payments .
  