Underwood: HMRC digital tax plans will cut fee income for accountants

The rapid move towards a fully digitised tax reporting landscape for businesses with the introduction of digital personal tax reporting will have serious repercussions for the value of tax-based fees at accountancy firms, warns Keith Underwood, managing director of Foulger Underwood Assocates

The end of year work on tax returns has always been a trial for smaller practices. The combination of penalties and reluctant clients, who feel that 29 January is ample time for their accountant to submit a tax return by the 31 January deadline, is usually a struggle from the perspective of process and time management, rather than any technical issues.

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