The UK's Making Tax Digital reforms affect banks, building societies and pension providers

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23 August 2016

The UK's Making Tax Digital reforms affect banks, building societies and pension providers

The United Kingdom (UK) Government published six different consultation documents on August 15, around specific elements of the Making Tax Digital (MTD) reforms. The consultation period is open for twelve weeks and closes on November 7. The consultation document entitled Making Tax Digital: Transforming the tax system through better use of information will be a key focus for banks, building societies and pension providers, all of whom are key third party information providers to Her Majesty's Revenue & Customs (HMRC), both in respect of their employees and customers.

A Tax Alert prepared by Ernst & Young UK, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1438

Document ID: 2016-1438

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