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Splashing around
Key points
- What prevented businesses signing up for making tax digital for VAT?
- Taxpayers wanted to comply but barriers included lack of knowledge information and skills.
- Fear that new software required for MTD for VAT would be expensive.
- HMRC communications must be clearer and more direct.
It seemed such a good idea at the time. Well it did to HMRC at any rate. Making tax digital – we live in a digital age everyone does everything electronically it should be a breeze to put tax on a digital setting with businesses having to report information four times a year electronically. The rest is history and eventually after much debate HMRC was forced to climb down from the goal of mandating digitalisation for all businesses with a turnover of more than £10 000 from April 2018 (how time flies). Instead it decided to require all VAT-registered...
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