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On 19 February financial secretary Mel Stride updated the House of Commons on HMRC’s progress on delivering Making Tax Digital for VAT. He said: ‘It has never been more important for businesses to be able to seize the opportunities that digital technology offers. Making Tax Digital helps them to do just that.’
He said the purpose of MTD was not to change what businesses are doing by altering tax rules or the frequency of reporting but to make it easier for businesses to report what they were already doing.
Mr Stride said more than 16 500 businesses have signed up to HMRC’s pilot and he hoped that more would do so in advance of the April deadline.
He reiterated that HMRC would not be producing free software to help businesses make their reports but said many products at a range of prices and functionality were available from commercial developers including ‘free...
