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Article by Kevin Reed.
For all the talk of shifting self assessment deadlines leading to staffing issues for firms, and concerns that HM Revenue & Customs will impose more late filing penalties, one market is expected to do well out of all this.
Accounting software businesses could find themselves in a prime position to encourage take-up of accounts production and tax processing software, as the implications of the Carter review into HMRC's online services become apparent.
SA filing deadlines for paper returns will move forward to 30 September from 2008, with 30 November the online deadline.
'It gives tax advisers no choice, but to be further reliant on IT,' according to Mark Holland, head of IT advisory at Baker Tilly.
'With the change skewing an adviser's business activities, will they use technology to help or bring in a pool of temporary staff?'
Jerry Rihll, MD of tax software business Digita, points out that the new deadline will lead to a shift in workflow for practioners, and IT could be used to facilitate more timely information from clients.
'The challenge is how to put things in place to make workflow easier. Perhaps an electronic collection of client information, but this would require co-operation from all parties who hold their info.'
Despite suggestions that the real winners from the review are software companies, practioners should not overlook the recommendations to improve liaisons between software providers and HMRC, where improvements in their communication could lead to better products.
'HMRC could work more co-operatively with software vendors,' the report said 'We recommend that test services should be provided for all services and at least six months before the implementation of major changes on tax returns or the online service.'
Rihll believes this recommendation has been possible because HMRC has recognised that software vendors need to be successful to help the department implement filing changes.
The report also recommended that HMRC should be more open with software developers about the risk rules that apply to tax items that could attract an enquiry, a boon for providers, and that it should also offer relief to practices.
A communication channel should be developed between HMRC and software developers to achieve quick resolution for queries, the review also recommended.
