Digital tax accounts

Tax / Satisfaction with HMRC digital service levels drops

Latest data from HMRC suggests that it is struggling to keep up with demand for its new digital services, as satisfaction levels have fallen, although it has significantly improved its phone and post handling capabilities

Tax / HMRC: software vendors will not be ready for Making Tax Digital

Making Tax Digital programme director Theresa Middleton has warned members of the House of Lords Economic Affairs Committee that some software vendors will not be ready to take part in the Making Tax Digital pilot scheme set to commence in April 2017. Calum Fuller reports

Tax / Cash basis strongly supported by buy-to-let landlords

Landlords have shown strong support on being taxed on the cash basis as part of the Making Tax Digital plans saying that it is an important and strong aspect for small landlords as well as showing overall positivity towards digitalisation, as part of evidence given to the Lords Committee

Tax / Small businesses face ’10 year payback’ for Making Tax Digital

Small businesses could face a wait of up to 10 years before they see a return from investing in becoming compliant with Making Tax Digital, members of the House of Lords’ Economic Affairs Committee have heard. Calum Fuller reports

Tax / Farming businesses too complex for quarterly reporting

The rigid framework of quarterly reporting under Making Tax Digital does not make sense for the farming community due to accounting complexity, use of capital allowances and seasonality of the business, NFU head of tax tells Lords committee. Sara White reports

Tax / Lords to examine Making Tax Digital for farmers and small businesses

Farmers, small businesses and landlords are to give evidence to the Economic Affairs Finance Bill sub-committee on the government's Making Tax Digital project today

Tax / House of Lords committee calls up HMRC chiefs to defend Making Tax Digital

Making Tax Digital will be back in the spotlight on Wednesday as sneior HMRC officials are called up to give evidence at the House of Lords committee reviewing the draft clauses of the Finance Bill 

Tax / Changing accounting date could delay Making Tax Digital for self employed

Self employed businesses and sole traders who feel they may need more time to adjust to the requirements of Making Tax Digital could consider changing their accounting date, according to ICAEW

Tax / Riley: Making Tax Digital means Making Tax Digital

Last week saw an interesting few days. We had the vote on triggering Article 50 in the Commons and a day later the publication of the Brexit White Paper. Getting in just before the filing deadline of 31 January, HMRC’s response to the six consultations on Making Tax Digital landed with a thud. Jonathan Reilly, head of tax at Grant Thornton reacts to the digitisation plans  

Tax / Lords brand Making Tax Digital mandation ‘undemocratic’

Members of the House of Lords Economic Affairs Finance Bill sub-committee have described the mandatory uptake of Making Tax Digital as ‘undemocratic’ as they continue their enquiries into the project’s rollout. Calum Fuller reports

Tax / MPs seek clarification on Making Tax Digital costs to business

The Treasury is coming under pressure to provide a detailed analysis of the costs to business of Making Tax Digital, after business groups have suggested these may be as much as ten times greater than forecast

Tax / Making Tax Digital: accountancy profession to give evidence to Lords committee

Representatives from ICAEW and ATT, along with other members of the accountancy profession, will be giving evidence on the impact of the government’s Making Tax Digital proposals, and whether taxpayers are ready for the changes, to a session of the House of Lords economic affairs finance bill sub-committee later today

Tax / Aplin: HMRC must clarify user testing plans for Making Tax Digital

Effective user testing for Making Tax Digital is critical if HMRC’s plan for quarterly reporting and digitisation of tax is going to work but the delay in confirming the exemption threshold is creating uncertainty for small businesses, warns Paul Aplin, vice president of ICAEW

Tax / Making Tax Digital £10k threshold ‘ridiculous’, claim Lords

HMRC’s £10,000 threshold for use of Making Tax Digital has been excoriated by members of the House of Lords economic affairs committee, who branded the proposal ‘ridiculous’

Tax / Lords probe software companies on lack of readiness for Making Tax Digital

HMRC’s timetable for user testing for Making Tax Digital is rushed, while the level of communication between software developers and HMRC is inadequate and there is not enough detailed specifications about the IT requirements for the rollout, leading software company chiefs told Lords Committee. Sara White reports