Industry response

Our response to HMRC's BBSI improvement proposals

We understand HMRC’s wish to introduce a modern tax system based on digital technology.  Building societies need to know that the benefits to HMRC outweigh the considerable costs to themselves, and ultimately to their members.  For any change to be successfully introduced to the BBSI schema, building societies and other FIs will need adequate time, complete certainty and clarity.  

We note with interest the statement made by the Public Accounts Committee that some of the projects under HMRC’s transformation programme will be slowed down or stopped.  Making tax digital is a prime candidate for such “re-prioritisation”.  

Click here to read the full response.