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Ageing process
KEY POINTS
- A business might be excluded from MTD because of age.
- Complex details involved in digital record-keeping.
- HMRC should announce a specific age as soon as possible.
In less than six months I will be able to start drawing money out of my self-invested personal pension. Five years after that I will qualify for a 60% discount on a season ticket at my favourite cricket club and three years after that a free bus pass to travel around Manchester as often as I want. All of the above benefits and concessions are clearly defined according to a specific age.
Let’s roll forward to the VAT Regulations SI 2018/261 that will take effect next April and require all businesses trading above the £85 000 VAT threshold to keep digital records and submit VAT returns with digital...
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