HMRC – Making Tax Digital - Will it ever happen?
As soon as the Prime Minister announced the General Election, it was obvious to most observers that large chunks of Finance Bill 2017 (FB17) would be removed, at least for the time being. This has proved to be the case. 80% of the original bill has been removed. HMRC’s Making Tax Digital is one of those measures that has been put on ice.
Is Making Tax Digital now dead in the water?
We now know the Election result, so we think the full introduction of Making Tax Digital will still happen. It is just a question of when?.
The silver lining re this delay, is that we hope HMRC will use this additional time to learn from a period of controlled go-live public beta testing.
Here a small number of UK businesses and tax-agents will have more time to enroll on the HMRC Making Tax Digital pilot since it started in April 2017.
Software developers will also benefit from a period of extra time to familiarise themselves with HMRC’s application program interfaces (APIs).
So in summary, Making Tax Digital has not gone away, it will no doubt be back, before we know it!. In view of this we will ensure that you are kept right up-to-date with the MTD latest legislation
Our philosophy will always be to ‘Remove your worries and legitimately reduce any tax headaches you may have’.
Contact us via e-mail at firstname.lastname@example.org for more help and information on HMRCs plans to take tax into the digital age.