Budget 2015: The death of the annual tax return
George Osborne will use his Budget to announce the end of the annual tax return within the next five years.
HM Revenue and Customs will automatically collate the tax affairs of millions of Britons from employers, banks and investment firms into a single “digital” tax account which can be checked at any time online.
The Chancellor will pledge that the move will reduce the time it takes to deal with HMRC from an average of 40 minutes a year to 10 minutes.
Tax returns have long been considered an unnecessary burden for millions of people. The changes will mean that those with straightforward tax affairs will have no need to collect receipts and other documents. Only those who do not want to manage their affairs online will still have to complete a self-assessment retur...