The Government is committed to the “Making Tax Digital” (MTD) project which is scheduled to start in April 2018 with the first quarterly updates being submitted by the self-employed and property landlords in July 2018. Many business owners, professional advisers and the Treasury select committee had expressed concerns about the timescale for the introduction of MTD. The Chancellor announced
Legislation to introduce Making Tax Digital (MTD) will be included in the Finance Bill 2017 and despite many objections that it was too soon, the new system of quarterly reporting will commence in April 2018 for the self-employed and property landlords. There were 1200 responses to the consultation documents issued in summer 2016 and a number of changes have
The Treasury Select Committee has reviewed the proposals for the introduction of “Making tax digital” (MTD) and have agreed with the various professional bodies that if the new systems are introduced too quickly there could be a disaster. It would significantly increase burdens on small businesses. In their report they comment that the overall benefits of mandating the digitising of
SMEs need to go digital or will face HMRC fines 2017 will see the biggest shake-up in tax reporting since the introduction of self-assessment as the government finally publishes proposals to make SMEs submit quarterly tax returns online. The measure is set to be clarified by government in 2017 as part of its programme to ensure that all tax matters
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.