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Key points
- It is clear from HMRC’s updated guidance that there are still some very serious issues which need to be addressed.
- HMRC needs to do more to alert taxpayers to developments in making tax digital for income tax.
- The guidance on record keeping is wrong and does not match the regulations.
- The guidance has mixed up the point at which someone must correct the error and the point at which they must notify HMRC.
- No taxpayer or adviser will be any further prepared for MTD for income tax after reading the update guidance.
It is fair to say that the response to HMRC’s latest making tax digital (MTD) for income tax updates has been less than ecstatic!
Certainly people on the various online forums and tax news sites have been vocal in their criticisms. Some of this is undoubtedly from the ‘usual suspects’ who will never be happy until...
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