Share this content

MTD has been delayed until 2024

Just released, link below

Didn't find your answer?

Replies (18)

Please login or register to join the discussion.

avatar
By SXGuy
23rd Sep 2021 13:54

I must look like a right twonk. Every year this gets delayed. Been informing clients for years.

Thanks (3)
Replying to SXGuy:
avatar
By AdamMurphy
23rd Sep 2021 13:59

After the initial VAT MTD got delayed I gave up doing this. I dread to think how many hours I spent.

Thanks (2)
avatar
By David Ex
23rd Sep 2021 13:57
Thanks (2)
By ireallyshouldknowthisbut
23rd Sep 2021 13:59

heh, anyone would think its a bit trickier to do than they thought.

Roll forward to March 2024, and I would imagine the hard launch will be softened markedly and it will be a very soft launch for a handful of customers with penalties suspended for 12 months at least.

Thanks (0)
Replying to ireallyshouldknowthisbut:
avatar
By AdamMurphy
23rd Sep 2021 14:01

The field of long grass for kicking the ball into is larger than I thought.

Thanks (0)
avatar
By AdamMurphy
23rd Sep 2021 14:03

HMRC, just make it a system for VAT registered businesses. You'll be getting quarterly figures from businesses who already keep the records very up to date, and from the bigger businesses.
Any business with a turnover below the VAT threshold isn't going to adversely affect your forecast figures anyway.

Thanks (4)
Replying to AdamMurphy:
By ireallyshouldknowthisbut
23rd Sep 2021 14:06

Stop thinking of easy solutions to complex (non) problems

There is massive benefit from small landlords filing quarterly, its just HMRC dont know what they are.

Thanks (1)
Replying to ireallyshouldknowthisbut:
avatar
By AdamMurphy
23rd Sep 2021 14:08

Tch, what was I thinking of.

Thanks (0)
avatar
By JD
23rd Sep 2021 14:45

Is this possibly so it is introduced after the next election..... and to give enough time for HMRC to manage/mismanage their tax gap figures

Thanks (2)
Replying to JD:
By ireallyshouldknowthisbut
23rd Sep 2021 15:03

I did wonder if this signals a spring election is on.

Thanks (0)
Replying to ireallyshouldknowthisbut:
avatar
By johnhemming
23rd Sep 2021 15:05

I think the timing of this relates to the change in FST. The FST cannot be criticised for this because she has only just got the job.

Thanks (1)
By SteveHa
23rd Sep 2021 15:16

Been a long time since I read such a carp load of marketing twonk. HMRC are about as digitally advanced as a Casio calculator.

Thanks (4)
Replying to SteveHa:
avatar
By Hugo Fair
23rd Sep 2021 16:07

Oi! All my old Casio calculators (yeah I know, I think they breed in the dark recesses of my desk drawers) are still fully functional, unlike ...

Thanks (2)
Replying to SteveHa:
avatar
By snickersinatwix
23rd Sep 2021 16:50

My trusty Casio calculator is much more reliable than HMRC thank you

Thanks (4)
Replying to snickersinatwix:
avatar
By SXGuy
23rd Sep 2021 17:38

The late mummy SXGuy was well known in the accountancy world for using a casio calculator, all numbers had rubbed off, and would look at you while typing. Clients would look on in amazement as to how any figures were ever correct.

Thanks (2)
avatar
By Paul Crowley
23rd Sep 2021 15:33

How peculiar
HMRC now saying there will be massive set up costs for traders
And continuing costs
And continuing costs will be bigger than the savings
What savngs?
Surely costs will be even more massive for traders as MTD will catch them out and close the tax gap

And MTD will increase the money being paid to Exchequer
Dream on

Thanks (7)
RLI
By lionofludesch
23rd Sep 2021 22:17

Crackers.

But it's not cancelled yet.

Thanks (1)
avatar
By fozia
24th Sep 2021 10:03

Never look a gift horse in the mouth, time is very precious!
So the MTD sprint just turned into an MTD marathon. Welcome - yes, annoying - oh yes. It's like preparing a great feast for guests you don't really like, only for them to cancel last minute. The pros and cons will slowly come to mind, but for now I will be booking some well deserved MTD-free time off!

Thanks (0)
Share this content