TLDW: HMRC's consultation on real-time tax collection starting 2029 will reshape how tax professionals manage client payments, working capital, and tax code compliance. Key points: - HMRC expects to collect an extra £235m annually by 2030/31 through in-year payroll deductions rather than January/July lumps - Accountants will need continuous visibility into client trading performance to manage tax code queries and forecasts - Self-assessment taxpayers will face monthly or quarterly deductions instead of current biannual payments - The change mirrors VAT compliance complexity but affects working capital habits clients have relied on - Firms must prepare for increased inbox volume and client inquiries around tax code adjustments
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