The financial secretary to the Treasury has reiterated in her speech to the HMRC annual conference the government’s proposal to postpone the introduction of ‘making tax digital’ (MTD) until 2019 for ‘slightly larger businesses’.
HMRC has already announced its firm intention to exempt unincorporated businesses and landlords with an annual income of below £10,000 from the requirement to file quarterly updates or keep records digitally from April 2018. The current consultation document, Making tax digital: bringing business tax into the digital age, proposes ‘deferring the mandatory start of MTD by one year for the next tier of small unincorporated businesses and landlords with annual incomes of above £10,000 but below a threshold to be determined’. The consultation runs until 7 November.
The financial secretary to the Treasury has reiterated in her speech to the HMRC annual conference the government’s proposal to postpone the introduction of ‘making tax digital’ (MTD) until 2019 for ‘slightly larger businesses’.
HMRC has already announced its firm intention to exempt unincorporated businesses and landlords with an annual income of below £10,000 from the requirement to file quarterly updates or keep records digitally from April 2018. The current consultation document, Making tax digital: bringing business tax into the digital age, proposes ‘deferring the mandatory start of MTD by one year for the next tier of small unincorporated businesses and landlords with annual incomes of above £10,000 but below a threshold to be determined’. The consultation runs until 7 November.
