Agentic AI will transform tax and accounting as the latest agents initiate and progress tasks with limited human input, improving workflow and productivity, but governance remains a risk, explains Russell Gammon, chief innovation officer at Tax Systems
Earlier this year, HMRC published guidance on the use of generative AI for software development. The focus is very much on responsibility and ethics, with the HMRC document calling for ‘strong human oversight and control, reliable source data and strong controls’, as well as adherence to UK GDPR, among various other measures.
Fundamentally, it spelled out that people are responsible for tax decisions, not AI. It’s a sensible, well-grounded approach. One that we all knew, but it’s nice to have it written down.
However, more than three years on from the arrival of ChatGPT, the guidance already feels out of date. Indeed, many software developers across the tax ecosystem are already well advanced in their AI journey, with many, if not all, of the expectations set out by HMRC already being applied.
