Tax self assessment, or tax returns are a system which is used for filing of tax returns on your own.
Right from its inception, the system has seen controversies. Millions of tax payers use this system for calculating the taxed owed by them to the HMRC. Due to the various controversies associated with it, a lot of people dread to use the system.
The HMRC is quite aware of the issue faced by people using the service, and hence it gives proper responses to all the calls made asking for assistance and therefore making the process as painless and simple as possible. This gave rise to online tax returns or online self assessment filing. Though these are quite early days for the system, the popularity of it is increasing rapidly due to the numerous benefits associated with it.
The benefits
If individuals file online tax return, all the calculations related to it are done automatically by the system. This negates any possibility of mathematical errors on your part. You immediately get an accurate calculation of the amount owed by you, or the money owed by Inland Revenue to you. Any money that is owed to you is repaid within a period of a few weeks. The manual method often takes longer to process. There is no one who would not like to get reunited with their money quickly... Is there? The confirmation receipt that your tax return has been received is sent immediately, and it is quite impossible to lose it. Complete support is provided by the HMRC through its assessment helpline. This is open for the entire year, except on New Year’s Day, Boxing Day and Christmas Day.
Government Gateway and Security
In spite of the various benefits offered by the online tax return system, there are still many individuals who are apprehensive. This is because most people think that sharing their personal details online is not secure enough. There are numerous scams and viruses infecting online systems, and there is always news about such happenings in the newspapers. This prevents many people from opting for filing their tax returns online. However, if you are a regular user of the internet, and have done online shopping quite frequently, this won't be a major concern for you.
HMRC has made the system risk free, and all your personal information is safe and secure due to the use of sophisticated systems for enhancing their security. It is impossible for outside people other than the ones at HMRC to have access to your private and important data. The information is submitted to Government Gateway, which acts as a centralised website for online services. The Government plans to have further additions to the services that are available online for customers in the near future. A secure payment gateway is used by the system for such transactions. A secure and safe pathway is created between the central server and your computer for this process. Each customer is provided with a safe and unique password and user ID for accessing the system. The aim is to make more and more people use the system for online tax returns.
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