HMRC business tax dashboard
HMRC have provided a new online tool for small businesses to help with tax management.
The HMRC Business Tax dashboard shows the user’s tax position across their different taxes, giving a place to view overall liability and requirements.
The dashboard shows a summary for each tax or a more detailed approach, including:
- Tax owed
- Repayments due
- Payments made
- Interest on late or unpaid payments
- Direct debit plans
Taxes covered include Self Assessment or Corporation Tax as well as PAYE. You will need to set up your business for these individual taxes to have them included in your dashboard though.
Update personal information
Basic changes to addresses and contact details can also be made within the Dashboard making it a central place to manage your tax affairs.
There is also the option to add “administrators” to your account so you can grant perhaps your partner, bookkeeper or accountant access to help you further manage and understand your business taxes.
For more information regarding this new HMRC initiative, visit the HMRC