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Businesses who need to access online HMRC tax accounts are being urged to prepare for an additional layer of security that becomes compulsory later this month.

The Association of Taxation Technicians (ATTA) are advising businesses to make sure that they are ready for the 2SV by 25th September, although it could be some weeks or months further down the line before businesses come across the extra security depending on what they are filing and how often.

2SV combines something the taxpayer knows, their login details, with a second element of something they own, such as a mobile or landline. After the initial login, a security code is issued to the mobile or landline, which must be entered for access to be granted to the account.

Alternatively a code can be generated from a mobile or tablet by an HMRC app which has been associated with that account.

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Yvette Nunn, Co-chair of ATT’s Technical Steering Group, commented, “Businesses must consider now what online HMRC accounts they have, who needs access and how their staff will receive the security code. There are various options and businesses should decide in advance of logging on which works best for them.

“Receiving the security code via a business landline may work well for a small business, but probably would not for a larger business with a central switchboard. Businesses with poor mobile reception may need to use the HMRC app.

“For businesses with a number of staff needing online access to HMRC systems, there is a function which allows separate logins or delegate access to be given to individual employees. These employees will have to set up 2SV in turn on their own or company mobiles, landline or app.”

To find out more about contracting please contact Sophie on 01442 759100 or email sophie.lewis@dolanaccountancy.com.

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With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £125 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

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