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The government is calling for evidence on income tax self-assessment (ITSA) registration to find out whether bringing forward the point when newly self-employed individuals and landlords are required to identify themselves to HMRC would help them to keep on top of their tax affairs. The current deadline of six months from the end of the tax year in which the taxpayer becomes liable could be reduced to say two three or four months.
HMRC adds that eventually earlier registration could allow this taxpayer population to access making tax digital (MTD) sooner.
The document covers these areas:
- the most effective methods of raising taxpayer awareness of their registration obligations;
- the timing of the registration obligation in relation to the start of trading;
- the nature of the obligation which is currently to notify income tax liability rather than to ‘register’ for ITSA; and
- administrative burdens and costs to the taxpayer and...
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