HMRC's digital tax plans delayed until 2019
HMRC’s digital tax plans have been delayed until 2019 so that large businesses have enough time to adjust, it was announced at the taxman’s annual conference
HMRC’s digital tax plans have been delayed until 2019 so that large businesses have enough time to adjust, it was announced at the taxman’s annual conference
HMRC’s digital tax plans have been delayed until 2019 so that large businesses have enough time to adjust, it was announced at the taxman’s annual conference.
Financial secretary to the Treasury Jane Ellison, MP, said; “You also told us that even slightly larger businesses might need more time to prepare for the new system – so we have proposed deferring the introduction of any changes to 2019 for those businesses too.”
The move comes in response to concerns over the ‘worryingly short’ timetable for implementing HMRC’s ambitious digital tax strategy.
HMRC is making exceptions for smaller businesses that may not be able to adapt to digital tax.
Jane Ellison, MP, continued “You told us that the smallest businesses might struggle to keep their records online – so we exempted over a million more landlords and small businesses from the proposed changes.”
Last month, HMRC outlined the details its digital tax strategy in a series of consultation documents.
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn 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 resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceHMRC service levels have fallen to an “unacceptably low level” and must be urgently addressed as part of the forthcoming Spring Budget statement, the ...
View articleHMRC fines targeting multinational enterprises have increased dramatically over the past two years under new regulations. Read More...
View articleThe 5 member countries will collaborate to tackle international tax crime, money laundering and threats posed by cryptocurrencies and cybercrime Read ...
View articleThe report suggests a wide range of reforms focussed on bringing together corporation tax and accounts, including creating five year roadmap for CT re...
View articleCommittee expresses concern about costs to businesses and April 2018 implementation date Read More...
View articleDrastically fewer offices for HMRC in the hope to reduce their running costs Read More...
View articleAn 80% increase in additional revenue for HMRC coincides with a crackdown on income tax avoidance Read More...
View articleLaurence Field, the head of tax at national audit, tax and advisory firm Crowe Clark Whitehill outlines the 6 'unexpected items' regarding HMRC's Maki...
View article