Tax experts and software representives have been called to give evidence before the House of Lords Economic Affairs Finance Bill sub-committee on government proposals to roll out Making Tax Digital (MTD) quartery reporting for small businesses and residential landlords from 2018
The hearing will be held on Monday 6 February and will be chaired by Lord Hollick, who has been a member of the Finance Bill sub committee since 2012.
At 3.35pm the Committee will hear from:
- John Whiting, tax director, Office of Tax Simplification;
- Robin Williamson, technical director, Low Income Tax Reform Group (LITRG); and
- Richard Murphy, director of Tax Research UK.
They will be asked questions such as:
- Will the changes simplify the taxation system?
- Which businesses should be exempt from the scheme? Is the proposed threshold (turnover of £10,000 a year) too low?
- Are the smallest businesses ready for the change?
- Will the scheme improve the accuracy of tax records and reduce the tax gap?
At 4.15pm the Committee will hear from:
- Kevin Hart, head of payroll and third party integration at B&CE (The People’s Pension), Business Application Software Developers Association (BADSA); and
- Kevin Dady, group CEO, IRIS Software Group.
They will be asked questions such as:
- How ready is the software industry ready for the start of making tax digital in April 2018?
- Are the HMRC software and technical systems ready for the start of the scheme in April 2018?
- Will software companies be willing to offer free software to small businesses?
- Are smaller, less ‘digitally-advanced’ businesses ready for the changes? Will they be able to adapt?
This evidence session will take place at 3.35pm on Monday 6 February 2017 in Committee Room 2 of the House of Lords.
Watch the session live at www.parliamentlive.tv More information on the work of the Lords Committee, here