Yvette Nunn CTA is heartened MPs in the Treasury Committee have added their voice to the profession's concerns around Making Tax Digital and its ambitious timetable for its introduction
Businesses using Making Tax Digital to file with HMRC will be granted a ‘soft landing’ for late filings in the first 12 months of the project’s operation, the tax authority has said
Spreadsheets will be incorporated into the Making Tax Digital process, HMRC has confirmed, as it published extensive consultation responses and draft legislation for the project’s implementation
Some 400,000 partnerships will report their tax positions and obligations through a nominated partner under HMRC’s Making Tax Digital project, draft legislation shows, although the largest partnerships with income over £10m are likely to be exempted
Taxpayers interested in opting for a voluntary pay as you go (PAYG) approach as part of Making Tax Digital plans, allowing them to make payments at a point of their choosing towards an expected tax liability, are calling for HMRC to ensure the repayments are handled quickly and with ease
Software developers are meeting with HMRC next Monday to update them on the latest position on the plans and rollout timetable for Making Tax Digital, with a view to finalising the next steps in the run-up to the launch of quarterly reporting for sole traders and buy-to-let landlords
HMRC is to add voice recognition to its options for taxpayers to confirm their identity to access its services, with the addition designed to speed up the security process
HMRC has confirmed plans to undertake a year-long pilot of Making Tax Digital for ‘hundreds of thousands’ of taxpayers following criticism at the hands of MPs in the Treasury Committee
Telecoms network suppliers are to be offered a £60m tax break for creating new infrastructure for full fibre broadband, as part of the government’s plans to boost the UK’s digital revolution and switch to online services
Ahead of the busiest period for self assessment returns, HMRC has slashed the number of fake emails sent to taxpayers by 300m by introducing a new level of security
HMRC has not agreed contingency measures with the Treasury should it run into difficulties with plans to digitise the tax system, and must take action to ensure it has a credible plan to make savings without damaging customer service, according to a report by the public accounts committee (PAC) which says its performance remains below par in several key areas
The Low Incomes Tax Reform Group (LITRG) is calling for urgent action to help the ‘digital left-behinds’ it has identified, warning that these individuals may find it hard to remain tax compliant once HMRC’s Making Tax Digital (MTD) initiative starts in 2018
Chancellor Philip Hammond missed the opportunity to make the tax code more equipped for the digital age with a root and branch review, says Grant Thornton head of tax Jonathan Riley
The Autumn Statement contained measures to incentivise take-up of ultra low emission vehicles (ULEVs), by reforming the appropriate percentage banding structure used in establishing the taxable benefit for ULEV company cars and funding more development work.
In his Autumn Statement Chancellor Philip Hammond announced that to support investment in UK fintech, the Department for International Trade (DIT) will provide £500,000 a year for financial technology (FinTech) specialists