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Chris HJ's avatar

Companies are already required to submit their accounts with XBRL tagging which is a standardised format which captures key data. VAT returns are also now submitted through Making Tax Digital (MTD) which requires a standard format and digital links which gives them more standardised data.

I suspect the issue is money to review the data and ownership (HMRC vs Companies House vs someone else) more than data quality.

Poland has had MTD in place for Sales tax (VAT) returns for much longer than us and has had some excellent success stories in routing out issues through data analysis demonstrating it's value, but as is increasingly frequent the UK lags behind.

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