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Business Tax Dashboard

17 October 2012

You may be interested to know that HM Revenue and Customs have recently introduced a Business Tax Dashboard, an online service aimed at smaller businesses to help manage your tax liabilities. 

The dashboard gives you an overall picture of your total tax position, including payments you have made and amounts you still owe, either for corporation tax or self-assessment, depending on the type of business you have.  In addition, if you are an employer, you can also view information on your VAT and PAYE position.

In order to set this up you will need to have enrolled for HMRC Online Services which you can do through the HMRC website.  Please note though that you have to be enrolled under the same account (User ID) for each tax you want to include in your dashboard.

The dashboard will summarise the overall liabilities for each tax including detailed information, such as any:

  • tax you owe
  • repayments HMRC owes to you
  • payments you have made
  • interest on any late payments
  • penalties you have incurred
  • direct debit payment plans

Note that the dashboard may not be appropriate if your business is part of a group of companies as the software only lets you see the tax position for one company at the present time.

For further detailed information on this service, in particular how to go about setting this up, go to http://www.hmrc.gov.uk/online/dashboard.htm#1

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