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 / Microsoft founder Gates advocates robots pay taxes

Billionaire Bill Gates, the founder of Microsoft, has predicted that in future there will be a need for robots to pay taxes, as increasingly automation replaces more jobs, in order to prevent inequalities

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 / Republicans block Democrats from releasing Trump’s tax returns

Republicans have voted against releasing President Donald Trump’s tax law returns after Democrats attempted to use a forgotten 1920s law to order the Treasury to release the President’s returns to the ways and means committee, following Trump’s continued refusal

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 / OTS confirms Whiting to stand down

The Office of Tax Simplification (OTS) has said it will now be publishing its corporation tax computation review later in March, after the spring Budget, and has also confirmed that Paul Morton will formally take over as tax director from John Whiting next month

Tax / Bill authorising EU withdrawal passes Commons

The bill giving prime minister Theresa May the authority to trigger Article 50 and start negotiations to take the UK out of the EU has passed its final stage in the House of Commons and will now move on to lords for consideration.

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 £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 / Roy-Chowdhury: Making Tax Digital timetable could hurt businesses

Making Tax Digital must take account of the needs of small businesses says ACCA head of taxation Chas Roy-Chowdhury 

Tax / Nunn: digital could be HMRC’s white elephant

Yvette Nunn CTA is heartened MPs in the Treasury Committee have added their voice to the profession's concerns around Making Tax Digital and its ambitious timetable for its introduction

Tax / Making Tax Digital: HMRC confirms ‘soft landing’ on penalties

Businesses using Making Tax Digital to file with HMRC will be granted a ‘soft landing’ for late filings in the first 12 months of the project’s operation, the tax authority has said

Tax / Making Tax Digital: spreadsheets survive as software path is outlined

Spreadsheets will be incorporated into the Making Tax Digital process, HMRC has confirmed, as it published extensive consultation responses and draft legislation for the project’s implementation

Tax / Making Tax Digital: partnerships must nominate partner to report

Some 400,000 partnerships will report their tax positions and obligations through a nominated partner under HMRC’s Making Tax Digital project, draft legislation shows, although the largest partnerships with income over £10m are likely to be exempted