Share this content

MTD for income tax - pointless waste of energy??

Didn't find your answer?

Just watching a webinar on MTD for income tax.

 

Is it just me or do other people wonder what the point of it all is?

 

HMRC won't gain anything. Software houses will obviously. I am already snowed under as a sole practitioner and struggle to get people to give me the information once a year let alone 4 times. Clients will pay more in fees.

 

I just don't see what the benefit is to anyone?

Replies (9)

Please login or register to join the discussion.

avatar
By Paul Crowley
28th Apr 2021 13:02

Same here
HMRC cannot cope with real work and will have not a clue when MTD ITSA goes wrong, and no interest other than adding up points to make penalties
This is state terrorism and intimidation for absolutely no good reason

Thanks (2)
avatar
By vinylnobbynobbs
28th Apr 2021 13:04

None whatsoever except to make life more difficult for advisors and customers.

Thanks (0)
avatar
By Geoff56
28th Apr 2021 14:23

If MTD for IT goes ahead as scheduled, I believe that my only way of coping with it, will be to retire.

Thanks (1)
Replying to Geoff56:
avatar
By GHarr497688
28th Apr 2021 18:40

I will too

Thanks (0)
avatar
By SXGuy
28th Apr 2021 14:26

Have you not read the millions of other threads on this? We are all in agreement. Not much else we can say anymore.

Thanks (0)
Replying to SXGuy:
avatar
By paulhelliker
28th Apr 2021 14:47

Must admit I have not been on here for a while as so busy. I did do a quick search but all the ones coming up were on VAT.

Good to know its not just me though!

Thanks (0)
avatar
By DaveyJonesLocker
28th Apr 2021 15:07

Benefits nobody except Quickbooks, Xero etc. It's The Emperor's New Clothes fable.

Thanks (1)
avatar
By Hugo Fair
28th Apr 2021 15:14

"HMRC won't gain anything" = not true (at least in their vision of the future).

Leaving aside all the comments of its impracticability (for clients and us) + potential for a technological implosion (at HMRC's end) + number of 'early retirees' on this forum, etc ... from the Treasury's perspective (and thus HMRC's) it is but the first truly tiny step towards the eventual real-time collection of tax revenues!

That is not 'conspiracy theory' type lunacy, but the picture that emerges when you read through all the 'consultations' issued over the last couple of years - and join the dots.

On the plus side, no-one believes it's waiting around the corner (so it can afford to be ignored by an ageing population of practitioners) ... but on the other hand, it does make one question why we all face so much pain & heartache in the fairly immediate future (for a 'sunny uplands' that may never arrive OR be to our benefit if it does).

So, OP got it right in asking "MTD for income tax - pointless waste of energy??" ... and the echoing silence from Whitehall is the answer.

Thanks (1)
avatar
By johnhemming
28th Apr 2021 21:11

Alternatively arguing with this sort of thread is a pointless waste of energy.

Thanks (0)
Share this content