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Welcome delay for 'Making Tax Digital' measures

by Susie Hughes at 10:48 26/04/17 (Political News)

The Government has dropped the controversial Making Tax Digital (MTD) legislation from the Finance Bill, which will be the last to be debated in the Commons before Parliament adjourns for the General Election.

Advertisement ACCA (the Association of Chartered Certified Accountants) welcomed the Government's decision after they had called for a delay for the proposals (See: Snap election should lead to Making Tax Digital deferral - Shout99, Apr 2017). Chas Roy-Chowdhury, head of tax at ACCA, said: "We welcome the Government’s decision to avoid rushing the MTD legislation process. "ACCA has raised some serious concerns about the implementation plan for MTD, and we advised at last week’s Treasury Select Committee hearing that it be delayed until after the General Election to ensure that there is time for full and comprehensive debate. "We also welcome the decision to delay other measures considered ‘controversial’—such as interest restriction, loss relief carry forward, an end to permanent ‘non-dom’ status and the dividend allowance reduction — so that they can be subject to the necessary scrutiny before being passed into law." 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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