Self-employed workers, landlords and small business owners are all faced with the prospect of having to fill out four tax returns every year.
Filing accounts quarterly will bring small operations, who currently only have to send their accounts to HMRC once a year, into line with large corporations. Some believe that the extra administrative burden could be harmful to taxpayers but we believe that Umbrella.co.uk accountancy customers will fare better than most.
The plans, which were only recently discovered having been slipped into the small print of George Osborne’s Autumn Statement, will affect around four million Britons.
