The accountancy profession continues to experience a large change as it continues to shift further into the digital age and automation.
What has happened so far?
25 years ago in 1997, HMRC introduced the Self-Assessment tax regime which brought about major changes to how tax returns were completed.
Roll forward 10 years to 2007 and accountants were able set up their own HMRC Agent account which enabled the filing of tax and vat returns online.
5 years later and in 2012, it was made compulsory for nearly all VAT registered business to file their VAT returns online and pay any VAT due electronically.