Tax Talk - A Modern Tax System
Summary
Any process has to allow the compliant taxpayers to sort their affairs out with as few roadblocks as possible, have checks to catch slip-ups, and have safeguards to capture the deliberately non-compliant. If HMRC saw a sudden rush of money appear in a bank account, they could check in with the tax adviser on the nature of the apparent windfall. Likewise, if the taxpayer were keen to invest their money in a new venture with complex parts, they and/or their agent could book in a chat with HMRC to ensure everyone around the table understood the implications of the transaction and, most importantly of all, of course, agreed on the amount of tax that was at stake. These are systems which can take in an extraordinary amount of data (well, maybe not the pub order, unless you are having a particularly good Friday night), analyse it for meaningful patterns, and manipulate the results into a user-friendly format. Furthermore, they use information already known about the user to predict future behaviour: Would you like to repeat your previous order, or aim for a PB on your normal running route ranked against other local runners?
Classifications
AskAI Classifications
LabelsLinked Companies
