Corbyn promises to ease MTD Burden

Labour leader, Jeremy Corbyn, has joined the various debates about Making Tax Digital (MTD). He stated that he would scrap the quarterly reporting for businesses with a turnover of under £83,000.

At a recent conference he said that this is because he considers it to be an unnecessary distraction for entrepreneurs. His stance was that businesses should be able to concentrate on growing their organisations rather than filling in their tax returns on a quarterly basis.

However, he stressed that Labour is against tax avoidance and cheating whatever the size of a company. Everything would be done to legislate against tax loopholes in a spirit of ‘anti-cheating’ rather than ‘anti-business’.

Reference: http://www.accountingweb.co.uk/tax/hmrc-policy/9am-lowdown-corbyn-promises-to-ease-mtd-burden