We were expecting the consultation process to have already started for the HMRC ‘Making Tax Digital’ project.
Unfortunately there have been delays, firstly due to the referendum and now due to the changes in government.
We are still awaiting full details, and a chance to feedback on several key proposals:
1) Quarterly ‘tax returns’
2) Changes to the timescale for making tax payments
3) The proposed digital record keeping requirement
My own tax association, the ATT, has already called for at least a one year postponement of the original timescale so that problems can be avoided:
HMRC urged to postpone quarterly digital reporting by at least a year
