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

13 April 2021 / Jonathan Yeomans
Issue: 4787 / Categories: Comment & Analysis
45292
The stuff of dreams

Key points

  • Using third-party data to pre-populate tax returns helps to simplify the process and to avoid errors.
  • Estonia is a pioneer in using third-party data tax return pre-population.
  • The OTS has called for evidence concerning HMRC receiving and using third-party data.
  • Is the UK’s tax system too complex and does it need simplification itself?
  • Following the spring Budget financial institution notices may be issued requiring financial institutions to provide HMRC with certain data.
  • How does tax simplification affect the future of tax agents?

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 ...

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