Making Tax Digital

Tax / Morton: what to expect from the OTS

Paul Morton, tax director of the Office of Tax Simplification (OTS), details what to expect from the OTS in the next 12 months, including Making Tax Digital, the OTS's first review of VAT and implications of individual taxation

Tax / Finance Bill (No.2) 2017 briefing confirms retrospective tax rules

The Treasury has issued a briefing note on Finance Bill (No.2) 2017 setting out the key legislative changes with a very brief description of each measure and clarifying whether measures will be retrospective from non-doms to loss relief reform, but hints that changes to the dividend nil rate could be delayed

Tax / Editor’s comment: coming to its senses on Making Tax Digital

The government's decision to delay Making Tax Digital quarterly reporting until 2020 was welcomed by the tax profession and business, and signalled recognition that HMRC itself was not ready for the digital overhaul of tax reporting as the project was flagged as high risk amber/red in the Infrastructure and Projects Authority (IPA) annual report. Sara White, editor of Accountancy considers the implications 

Tax / Nunn: listen and learn HMRC

Yvette Nunn, director of Berkeley Associates, welcomes the government's decison to delay HMRC’s Making Tax Digital project implementation until 2020, except for VAT, so that small businesses and landlords have more time to prepare, but warns that there are fundamental problems with current HMRC IT systems which need to be addressed

Tax / Making Tax Digital IT project flagged as a major risk

The delivery of HMRC’s flagship Making Tax Digital for business and its office relocation plans have been flagged up as displaying major risks in the latest annual report on the government major projects portfolio (GMPP) from the Infrastructure and Projects Authority (IPA)

Tax / Making Tax Digital delayed until 'at least' 2020 except for VAT

The government has caved into pressure over Making Tax Digital and has delayed rollout by 'at least' two years until 2020 with the deferral confirmed by the Treasury, although quarterly VAT reporting using the system will be mandatory from 2019, reports Sara White

Tax / HMRC forces trusts and estates to register online by 5 October

All trusts and estates with a tax liability must register online via the HMRC trusts and estates online service by 5 October following the withdrawal of paper form 41G (Trusts)

Tax / Jane Ellison back at Treasury after losing seat as MP

Jane Ellison, former Conservative MP for Battersea and ex Treasury financial secretary, who lost her seat in last month’s general election, has been hired as a special adviser in the Treasury

Tax / Treasury responds to pressure over UK broadband speed

Despite newly announced initiatives by the Treasury designed to encourage faster broadband connectivity – the technology which is essential for the operation of HMRC’s flagship Making Tax Digital initiative – independent research shows a strong urban/rural divide in speed of access

Tax / Nunn: Filing tax returns ought not to be a saga

Yvette Nunn describes the difficulty she faced in filing her personal tax return, and looks forward to being furnished with a digital account in the future

Tax / OTS to focus on digital and gig economy after first annual report

The Office of Tax Simplification (OTS) has released its first annual report, stating that digitisation of the tax administration means its remit ‘has never been more important’

Tax / Changes at the top for Crowe Clark Whitehill

Managing partner of Crowe Clark Whitehill’s London office Nigel Bostock is set to become the firm’s chief executive as current incumbent David Mellor hands over the reins

Tax / Individuals' tax relief required for Making Tax Digital software costs

Failing to provide tax relief for individual taxpayers buying Making Tax Digital software is ‘manifestly unjust’, according to RSM senior tax partner George Bull, as tax relief will be made available to businesses 

Tax / Select Committee on Finance Bill unlikely to convene before early July

Government plans to push through a summer Finance Bill before the parliamentary summer recess will come up against problems as there are no select committees in place following the general election so there is likely to be little time for proper scrutiny 

Tax / Queen’s Speech scheduled for 21 June

The Queen’s Speech, outlining the government’s legislative plans for the new session of Parliament, will take place next Wednesday, and will provide the first indication of whether the previously proposed controversial changes to the tax regime will go ahead as planned