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The gift of time
Key points
- HMRC has postponed the implementation of MTD for ITSA until April 2024.
- New regulations for MTD for ITSA have been published with key differences from the draft ones published in 2017.
- So far there are only seven HMRC-recognised third-party software providers for MTD ITSA.
- Regulations clarify the MTD ITSA dates and deadlines for fixed quarter dates.
- The delay allows everyone more time to ensure that the implementation of MTD ITSA is smooth and successful.
Last month the government announced a year’s delay to April 2024 for the adoption of making tax digital (MTD) for income tax self assessment (ITSA).
Curiously there was no mention of MTD in chancellor Rishi Sunak’s budget speech on 3 March 2021 nor was it specifically mentioned in the accompanying Red book. However the tax day announcements on 23 March included the publication of a call for evidence on modernising...
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