Using third-party data to pre-populate tax returns and simplify the taxpayer experience

Imagine a world where a taxpayer gets a notification that the tax deadline is approaching they sit down to complete their return and two minutes later it’s all done.

Logging in with superfast broadband they had called up a tax return and found it pre-populated with data about their income and expenditure. This has been done using data pulled from various third parties including information from banks employers pension providers state benefits and details of training expenses paid. They are pleased to see the return includes details of their gifts and donations because they had forgotten about one of these. They need only quickly check the accuracy of this data make any necessary changes and approve the declaration. The whole process takes minutes. No hassle no headache job done and plenty of time to get on with something else more enjoyable....