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MTD FOR INCOME TAX MANDATION

MTD

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I registered for a Webinar with HMRC and asked a question which they did not answer!  "Why is the threshold £10000  (includes business turnover and rental income) when this is below tax threshold?".  MTD for Corporation tax is not mandatory (if below VAT Threshold).  It does not make sense.  

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RLI
By lionofludesch
29th Jul 2020 18:41

It won't affect me. I don't mind, to be honest.

Though I suspect that this threshold may well rise as fast as the VAT threshold did.

Maybe faster.

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By Matrix
29th Jul 2020 19:11

The MTD rules for corporation tax have not been released yet, where did you get that they only apply if the turnover is below the VAT threshold? Thanks

Regarding the income tax threshold. We know. It is disappointing that our institutes weren’t able to make the government see sense but we don’t have any explanation. I don’t know if there is one. I think the original threshold was nil.

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Replying to Matrix:
RLI
By lionofludesch
29th Jul 2020 23:34

No, it was £10000.

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By Matrix
30th Jul 2020 00:06

I thought there was no threshold, there were just different start dates for turnover above or below VAT threshold. At the very beginning. The start dates were April 2018 and April 2019.

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By AWeb72
29th Jul 2020 20:03

I am not bothering with the HMRC webinars anymore. The last few I've attended have been a waste of time. They just give out exactly what's on their website already, and if anyone asks a question they copy and paste an answer even if it's not the right one. In short, they know no more other than what we can read.

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By Paul Crowley
29th Jul 2020 20:51

Agree, have watched a few but clearly a compete waste of time as in each I could have given better answers than HMRC person was able to to
They are like listening to a scripted sales call and will not do anything off script and only reply to the most simple questions

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By johnhemming
30th Jul 2020 06:42

It's the same with their forums. In a sense you should expect that their specialists will be doing other things so the people doing this job source their material from some documents. Best if these documents are publicly available.

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By johnhemming
30th Jul 2020 06:43

The requirement for free software is for turnovers between 10k and 85k

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RLI
By lionofludesch
30th Jul 2020 09:46

Quote:

The requirement for free software is for turnovers between 10k and 85k

What do you mean by that ?

HMRC is required to provide software to cover cases from £10000 to £85000 ?

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Replying to lionofludesch:
By ireallyshouldknowthisbut
30th Jul 2020 11:02

I think this is a bit like the 'free' MTD software for VAT filing that doesn't actually exist.

Government seemed to think software companies would provide it.

But oddly enough, they didn't.

And it all got washed over.

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Replying to ireallyshouldknowthisbut:
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By johnhemming
30th Jul 2020 18:58

Quote:

I think this is a bit like the 'free' MTD software for VAT filing that doesn't actually exist.


I suggested to HMRC that they provided a filter for free software for vat and afaik they have done this. The ITSA page identifies the vendors that provide free software.
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By Brads.Kings
30th Jul 2020 12:41

My guess is that it was the personal allowance when MTD was first dreamt up (in 2014/15).

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By AWeb72
30th Jul 2020 15:09

Why is this anonymous? It's not THAT shameful to attend HMRC webinars surely?

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