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More than one million small businesses and landlords exempt from quarterly reporting

16 August 2016
Issue: 4563 / Categories: News

Six consultations have been launched covering various aspects of HMRC’s digital plans.

HMRC has published six consultation documents on the making tax digital programme to digitalise the tax system. It also announced that 1.3m small businesses with a turnover of under £10 000 and landlords will be exempt from having to update HMRC quarterly or keep their records digitally.

The government is also considering deferring digital recordkeeping and quarterly updating for a further group of small businesses and will explore options to assist businesses with the transition.

Finally the documents confirm that those who cannot go digital will not be required to do so.

Bringing tax into the digital age

This considers the practicalities of making the transition to digital record keeping how businesses can choose the right product and the guidance and support HMRC needs to provide. This includes the availability of free products for the smallest businesses with the most straightforward tax affairs.

Much of the detail...

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