The government's plans continue to cause concern
Thank you for the comments received to date on ‘Making tax digital’.
The detail is very scant but has caused significant concern.
Many of you agree that this is not ‘tax simplification for businesses’ and that there seems to be minimal detail on any true tax simplification measures to support businesses and reduce cost.
You have also commented that there is little planned to simplify tax measures and reliefs, and that the measures are a simple acceleration of tax payments by business to the government.
So, rather than tax simplification for business, the result seems to be that businesses will have one tax reporting date replaced by four tax reporting dates.
There is, however, benefit for business in being able to access a digital tax account and, presumably, manage all taxes and correct HMRC errors.
ACCA together with other bodies has written to the financial secretary to the Treasury and has received his reply. The two letters can be accessed; further discussions are taking place.
You can continue to send your views to advisory@accaglobal.com with a subject line ‘Making tax digital’
If you added your name to the petition ‘Scrap plans forcing self-employed & small business to do 4 tax returns yearly’, calling for a Parliamentary debate, you may wish to follow the debate due to take place on Monday 25 January.
The following will be debated: 'That this House has considered e-petition 115895 relating to tax reporting for small businesses and the self-employed.'
You may also want to highlight your views on the measure to your MP. Contact details, should you require them, are at the MPs section of the Parliament website.
HMRC is holding a short series of initial consultation events around the UK as part of the programme for ‘making tax digital’.
HMRC is keen to speak with members in practice and their business clients about the project, and to hear their views to help shape modernising the tax system.
The events will last around two hours at locations listed below. Places are limited but there will be other events taking place during spring 2016 if you are not able to attend this time.
To attend, email Makingtaxdigital.mailbox@hmrc.gsi.gov.uk with your full name, address, telephone number, email address, business name and preferred event date and location, and indicating if you will be bringing clients with you.
HMRC states that your details will not be used for any purpose other than the organisation of these events.
Dates
Tuesday 2 February: Exeter
Wednesday 3 February: Cardiff
Thursday 4 February: Newcastle
Friday 5 February: London
Friday 5 February: Nottingham
Monday 8 February: Manchester
Monday 8 February: Belfast
Tuesday 9 February: Leeds
Wednesday 10 February: Glasgow
Thursday 11 February: Edinburgh
Friday 12 February: Birmingham
Friday 19 February: London