MTD For Self Assessment

Message from HMRC

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JUst received an email from HMRC stating from 6/4/2024 I will have to use their digital service. I am a pensioner and I do my own submission. for myself So now I have to buy software and make quarterly updates. What nonsense is this? I have around £6000 of reducing clients. Time to quit I think? THis is really going to damage my livelihood. Has this been approved by parliament? This is going to cause misery for many poeple and give HMRC dictactorial powers!

Replies (23)

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By David Ex
10th Jun 2022 10:57

Think this has maybe been mentioned on here previously.

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Replying to David Ex:
RLI
By lionofludesch
10th Jun 2022 12:52

David Ex wrote:

Think this has maybe been mentioned on here previously.

I think I've seen something about it, now you mention it.

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Replying to lionofludesch:
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By David Ex
10th Jun 2022 15:20

lionofludesch wrote:

I think I've seen something about it, now you mention it.

Definitely rings a bell.

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Replying to David Ex:
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By Paul Crowley
10th Jun 2022 15:24

Did people think that it was a good solution?
Should do as no tax return needed

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Replying to David Ex:
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By DKB-Sheffield
10th Jun 2022 23:11

Oh I *really* wish this was the first time I'd heard of this!

But then, I don't appear to be in receipt of the specific email referred to in the OP so... perhaps I've not actually heard of this at all (the current version that is).

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Danny Kent
By Viciuno
10th Jun 2022 10:58

Have you been living under a rock?

Clients - I hope not accounting clients? Loads of CPD courses I've attended have been mentioning it for years (and I do mean years, this has been pushed back so many times).

It you are just joe blogs though, not an accountant then fair enough. There are exemptions, however the fact that you have posted on an online forum probably means you are not eligible.

Some bridging software is available. With £6k income is it even worthwhile you being VAT registered? That is a whole other can of worms though.

You can get MTD compliant software for free with some banks, other software can be found pretty cheap. Have a google. If you are struggling ask a friend or family member for help (or even a tech savy client).

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By TonyUK
10th Jun 2022 11:04

I do use Taxfiler but only for company clients at the moment. The problem is I have to also pay HMRC for Money laundering regulations. I tried to register for MTD but
this prevented me as I have to pay them around £300 for this.

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Replying to TonyUK:
By williams lester accountants
10th Jun 2022 11:15

Not sure why you think you should be exempt from money laundering regulations.....they are there for a purpose. The rest of us have to pay, so i suggest either registering (which is a legal obligation for an accountant in practice) or retire.

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Replying to TonyUK:
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By Leywood
10th Jun 2022 11:17

Its been mentioned before, back in 2021 in fact, that you did not appear to have had MLR cover, so for many years so youve saved yourself an absolute fortune over the years so can now plough that saving into paying a teeny tiny amount into software. Why on earth mid 2022 have you still not sorted this out?

Never mind about the fact that you have been breaking the law, which could cost you thousands in fines and worse for having no cover. You certainly dont want their fraud dept on your case.

We all have to pay it, so why shouldnt you?

If your turnover is reducing anyway you will be able to pay less for MLR soon.

You will be able to file MTD via taxfiler.

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Replying to TonyUK:
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By Hugo Fair
10th Jun 2022 11:18

I hardly dare ask ... but are you saying you are a practising accountant? With a PC? But no AML certificate? How about PII? What kind of services are you providing?

Is MTD a burden? Yes. Is it necessary? Logically no, but legally yes.
Is it all really news to you?

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Replying to Hugo Fair:
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By legerman
10th Jun 2022 12:59

Hugo Fair wrote:

I hardly dare ask ... but are you saying you are a practising accountant? With a PC? But no AML certificate? How about PII? What kind of services are you providing?

Is MTD a burden? Yes. Is it necessary? Logically no, but legally yes.
Is it all really news to you?

Tony says at 11.04 am above "The problem is I have to also pay HMRC for Money laundering regulations" I took that to read that he now has AML.

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Replying to legerman:
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By Leywood
10th Jun 2022 13:23

Also in the following sentence he says ''I tried to register for MTD but
this prevented me as I have to pay them around £300 for this.'' Which indicates he has not paid it, otherwise he would be able to register for MTD.

Tony - just retire.

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Replying to legerman:
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By Hugo Fair
10th Jun 2022 13:30

As usual, interpretation is everything when the wording is unclear.

I took Tony's continuation of that same quote "I tried to register for MTD but
this prevented me as I have to pay them around £300 for this" ... to mean the exact opposite of your interpretation.
In other words, because he 'would have to' pay £300 and didn't wish to do so, he hadn't done so (registered for AML). But who knows?

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By ireallyshouldknowthisbut
10th Jun 2022 11:36

Dear Tony,

without wishing appear to be rude, are you use you sure you are best representing your clients? I imagine that they are very long standing and been with you for years, and no doubt as much friends as customers.

You seem to be very out of date with a topics which have been 'hot topics' for years.

What else has past you by?

We have taken on work in the past from very well meaning accountants who are unfortunately gone past the point where they are able to offer the services they once could and as a result have let down their clients.

Is this happening to you?

It is going to happen to every single poster on this forum at some point.

Do take care.

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By SteveHa
10th Jun 2022 11:51

£6,000 is below the (proposed) threshold for MTD4SA. Ignore and move on.

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By TonyUK
10th Jun 2022 12:02

I just been on HMRC website, it states quite clearly if my income from self empl0yment
above £10000 I have to register for MTD. My income from this source is below £10000.
Other income is pension only. Problem solved!

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Replying to TonyUK:
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By CJaneH
10th Jun 2022 12:08

Just checking is your gross income less than £10K or your profit? MTD uses gross income.

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Replying to CJaneH:
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By TonyUK
10th Jun 2022 13:45

Gross income-Turnover

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RLI
By lionofludesch
10th Jun 2022 12:54

Tony - you could always work for the companies as an employee.

Or you could retire. Which is what I did.

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Replying to lionofludesch:
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By TonyUK
10th Jun 2022 13:46

I am age 72, with Parkinsons Disease and Spinal Stenosis with Trapped Nerve

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Replying to TonyUK:
RLI
By lionofludesch
10th Jun 2022 13:59

TonyUK wrote:

I am age 72, with Parkinsons Disease and Spinal Stenosis with Trapped Nerve

Sorry to hear that but I'm not seeing the relevance to my suggestion. It's not preventing you retiring nor working as an employee.

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By pauld
10th Jun 2022 13:34

Has anyone else received such an email from HMRC? I personally am not aware of any. Maybe the OP knew about MTD it but an actual email from HMRC has a sense of finality to it in that it may not be delayed any further.

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By TonyUK
10th Jun 2022 14:05

I was intending to quit in another two years anyway, by then aged 74. Of course I am aware of MTD but in my poor health condition I cant image how I would cope with quarterly updates and doing previous year submissions anyway. I have difficulty getting clients to give me their paperwork once a year at the moment. This is all all about making money for the software companies, the current system works perfectly well
for very small clients.

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