The tax will hit income from non healthcare trading activities such as running a shop or charging for car parking spaces.
Shadow Tory chancellor Oliver Letwin claimed that if all 25 proposed foundation hospitals do as well as Moorfields Hispital, which applied for foundation hospital status last year, it would bring in £4m for the Treasury from 25 foundation trusts.
MTD represents 'the single most significant change to the UK’s system of taxation in recent times', says Knill James partner Nick Rawson. So, how prepared are SMEs for digital tax reporting?
The SME community voices concern about the chancellor's measures in the Spring Budget
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Unincorporated businesses under the VAT threshold given an extra year to prepare before MTD becomes mandatory