Making Tax Digital - impact on the self employed....

[Murdoch]

UPDATE:

Money Box Live covered this last week.

http://www.bbc.co.uk/programmes/b08c0rfv

As clear as mud then!

 

[SLIPSHOD & SLAPDASH]

My wife does a bit of market research every now & then, she passed me a link which i got accepted for. Its being paid by HMRC (So i will obviously declare it) They are coming to my house next week to discuss how individuals and small businesses are worried about not filling in forms correctly and the repercussions. It going to last 2 hours, no personal tax questions will be asked or can be asked.

 

[Murdoch]

^^ be interesting to hear what you hear!

 

[SLIPSHOD & SLAPDASH]

An interesting  morning was had, but nothing really to report back here. The guy worked for a market research company as the HMRC are listening to small companies/individuals worried about fines etc for filling in forms wrong/late returns and how they can make it easier.

 

[Murdoch]

So did you offer much "input" and were you the only person there or were there a few of you?

 

[Murdoch]

Some more info:

http://www.accountingweb.co.uk/tax/business-tax/accountants-reveal-cost-of-making-tax-digital

 

[Murdoch]

And hot of the press today:

https://www.gov.uk/government/news/...ased-mandation-of-making-tax-digital-for-itsa
Which is great news as I'll definitely have retired by then

 

[UNG]

And hot of the press today:

https://www.gov.uk/government/news/...ased-mandation-of-making-tax-digital-for-itsa
Which is great news as I'll definitely have retired by then

That is what they would like to do, with what is going on at HMRC I doubt it will happen just like that

 

[NozSpark]

Some more info:

http://www.accountingweb.co.uk/tax/business-tax/accountants-reveal-cost-of-making-tax-digital

GREAT I already have MTD for VAT,,,, and they're now going to be forcing it on us for self assessment

 

[mort2376]

It was always going to happen just a case of when. At least they have realised that it needed reviewing.

I sure will miss my excel spreadsheet.

 

[ProDave]

Yipee, I will be retired before this comes in so won't be troubled by it.