Digital tax consultation to be delayed until after EU referendum
Consultation on Making Tax Digital put back until after EU referendum
Consultation on Making Tax Digital put back until after EU referendum
THE CONSULTATION on digital tax accounts is to be delayed until after the EU referendum on 23 June, HM Revenue & Customs has confirmed.
Concerns have been raised that such a delay could truncate the consultation process given that beta tests for the quarterly system are slated to commence in July, while advisers are supposed to be able to manage clients’ affairs from December.
Tax policy expert at AAT Brian Palmer said: “While it is extremely disappointing that the publication of the Making Tax Digital consultation documents has now been postponed until after the EU Referendum has taken place, from my perspective I can fully understand this decision.
“Making Tax Digital is going to be such a fundamental change and will have such ramifications that we do want the full attention of individuals and businesses alike when we finally do get the consultation documents.”
An HMRC spokesman said: “The consultations will be released after the referendum giving plenty of time for review and feedback.”
Last month, Treasury Select Committee chairman Andrew Tyrie expressed concerns over the burden the move would place on taxpayers – particularly businesses.
“This would entail the use of designated software packages. It would have an impact on large businesses (who may not currently have accounting systems which are compatible with HMRC’s requirements) as much as on small businesses, who may not use computers,” he warned in a letter to fellow Conservative David Gauke.
More about:
The numbers you crunch tell a story. Your expertis...
9yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleAt Accountex London 2025, Accountancy Age sat down with Nick Williams, International Product Director at QuickBooks, to discuss their latest innovatio...
View articleNearly 800,000 self-employed individuals and landlords earning over £50,000 will need to overhaul how they handle income tax, as HMRC prepares to roll...
View articleAt the sidelines of Accountex 2025, Thomson Reuters’ Max Thomas, Brian Wilson and Sai Charan Anaparthy explain why the firm is betting big on Making T...
View articleAI isn’t replacing accountants. It’s showing up just in time to help them manage the complexity of MTD - and shift how firms operate. Read More...
View articleNew platform launched at Accountex aims to reduce admin and simplify compliance for landlords and multi-source income taxpayers Read More...
View articleNew research shows nearly a third of sole traders haven’t even heard of Making Tax Digital, with under a year to prepare Read More...
View articleNew survey shows a profession split between pressure and promise as April 2026 deadline looms Read More...
View articleThe timeline is fixed. By April 2026, Making Tax Digital for Income Tax will be mandatory for many sole traders and landlords. But judging by the tone...
View article