Corbyn promises to ease MTD Burden

Jeremy Corben, the Labour leader, has joined the various debates about Making Tax Digital (MTD) and said that he would scrap the quarterly reporting for businesses with a turnover of under £83,000. At a recent conference he stated that his reason for abandoning the quarterly reporting is because he considers…

Lords call for delay to MTD

Making Tax Digital for Business (MTD) is a subject of concern for a number of organisations, from tax experts through to the House of Lords Select Committee on Economic Affairs. All agree that MTD is being rushed and its implementation should be delayed until 2020. A Lords Sub-Committee published a…

MTD Apps – do they work?

As part of their preparations for Making Tax Digital (MTD), HMRC has been explaining how small businesses will save time, and therefore money, when they file their tax returns on line. In their consultation document, HMRC used the experiences of ‘Eve the Carpenter’ to detail the benefits of MTD. Eve…

UK accountants embrace cloud whilst SMEs lag

Exact 2016 SME barometer praises UK accountants, near the top of the European league of cloud adoption, but only 16% of small business input their accounts online. Over 2,000 accountancy professionals across Europe were surveyed by Exact as part of their annual survey which looks at relationships between accountants and…

Evidence of high costs could halt Making Tax Digital

Jim Harra, HMRC’s director of customer strategy and tax design was the key speaker at the 2016 Hardman lecture, given at the ICAEW headquarters in London. Among a range of topics, Harra talked about Making Tax Digital and answered a number of questions from the floor. The head of taxation…

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