The Treasury said Customs and Excise and Entrust, the body responsible forregulating the scheme, will consider ways to improve the percentage offunds spent within two years of being committed to projects.
But, responding to criticism from MPS on the powerful Commons Public Accounts Committee, they insisted there were some large and complex schemes funded from the tax which take years to plan and execute.
The MPs were critical of the fact that over £120m remained unspent and urged the percentage committed within two years to be increased so as to deliver benefits in local areas more quickly.
The government is considering the future of the scheme, includingwidening the sanctions available to Entrust when environmental bodiesgiven support failed to meet obligations.–
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
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