MTD - Lord Submissions published

Some interesting reading there

Didn't find your answer?

Big fat link which hopefully works for the recent Lord's submissions.

http://www.parliament.uk/business/committees/committees-a-z/lords-select...

Notable for the excellent contributions by fellow small accountants telling it "how it is at ground level" (I imagine a fair few fellow contributors are Awebers) also notable for the skin crawling, hand-rubbing-at-the-thought-of-all-the-extra-cash submission by $AGE  and the the rather spineless contributions by our fair institutes.  

 

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By Accountant A
02nd Mar 2017 17:25

The Treasury Select Committee were pretty blunt intheir assessment in January

https://www.publications.parliament.uk/pa/cm201617/cmselect/cmtreasy/927...

Para 88
The average cost to business of implementing MTD cannot be substantiated .... However, the cost is likely to be significant for a small business. There will be both implementation costs and continuing costs. Evidence given to the Committee suggests that under the current timetable, the total cost to business (including software, hardware, training, agent fees and, above all, time) might exceed the total benefits in improved tax yield. In other words, even if the yield were to rise, the return to the whole economy could be negative. The Government’s estimate of the yield may therefore neglect the effect of overall behavioural changes.

Para 94
Even if the total economic return were shown to be modestly positive, the Government must convince Parliament that it is worth the candle.

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By SM80
02nd Mar 2017 21:02

In fairness I think sage are pretty right with their submission

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