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Snap election should lead to Making Tax Digital deferral

by Susie Hughes at 12:23 24/04/17 (Political News)

A professional accountancy body has urged a delay in the implementation of HMRC’s Making Tax Digital strategy, following the decision to hold a snap General Election.

Advertisement Chas Roy-Chowdhury, head of tax at the Association of Chartered Certified Accountants (ACCA) said: "It has been clear for some time that the proposed timescale for introducing the reforms under the Finance Bill 2017 (known as Making Tax Digital) will cause particular challenges for small businesses, especially with regards to the practicalities and costs of digital quarterly reporting. "The prospect of a snap General Election will further complicate the implementation of the proposals, as well as creating far more uncertainty for business during a profoundly difficult economic cycle. "ACCA have long called for a full deferral of Making Tax Digital until 2020 to fully allow both HMRC and business to prepare and minimise disruption. In light of the election announcement there should be at least an agreement to delay any further action until the next Parliament." Tweet -- If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'. - Susie Hughes © Shout99 2017

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