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An ICAS strategy document discusses HMRC’s MTD project.
The Institute of Chartered Accountants of Scotland (ICAS) has launched a making tax digital (MTD) strategy. The institute supports the overall objectives of the MTD project but says it has significant reservations about the timescale and other key areas including the impact it will have on agents small businesses and taxpayers.
The ICAS strategy outlines how it will work with and support HMRC taxpayers and ICAS members during the digital transformation of the UK’s tax administration. As part of its strategy ICAS will:
- inform taxpayers about the changes to tax administration;
- represent the public interest during the transformation;
- work with HMRC to improve the digital tax administration system; and
- support ICAS members so they can maximise the benefits.
The document states: ‘Some of the proposed changes particularly the...
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