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Time to review
Key points
- The start date for MTD for ITSA has been pushed back from April 2024 to April 2026.
- The threshold of qualifying income will be set at £50 000 – dropping to £30 000 from April 2027.
- HMRC’s Administrative Burdens Advisory Board said tax should never be the only driver for change.
- The primary focus should be on better quality records and on getting the best out of technology.
- There must be a willingness to listen and to be open to alternative approaches to achieving the programme’s goals.
On 19 December the financial secretary to the Treasury Victoria Atkins announced a further delay to making tax digital (MTD) for income tax self assessment (ITSA). The expectation that an announcement was imminent had been building over the preceding weeks: there was simply too much to resolve for there to have been any realistic chance of keeping to April...
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