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MTD start date

I'm sure someone has answered this already....

Didn't find your answer?

Client A

Gross rent £13,000

Self employed turnover £ 70,000  Year end 31st August

When is the MTD commencement date?

Presumably 06/04/19, because of the rental income?

However, what I do not understand is whether MTD quarterly submissions falling within the period 06/04/19 to 31/08/19 will include the self employed trading as well, which without the rental issue would have become subject to MTD from 01/09/19.

If the answer is yes, then MTD for the self employed income starts part way through an accounting period.

Can that be the case?

Many thanks in advance.

 

Replies (6)

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RLI
By lionofludesch
22nd Mar 2017 15:03

HMRC haven't decided yet.

Further mind changes are almost certain.

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Replying to lionofludesch:
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By Elvis11
22nd Mar 2017 15:12

Thanks.

It's almost as if these halfwits haven't really thought this through properly....

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Replying to Elvis11:
RLI
By lionofludesch
22nd Mar 2017 15:18

Many a true word ......

Thanks (1)
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By Elvis11
23rd Mar 2017 09:13

I've decided that I need to let my clients know when the MTD proposals will impact on them. I have numerous clients who have both self employed and rental income and this is what led to my question.
In order to get to the bottom of this, I have emailed Jim Harra this morning and asked him to clarify. I'll let you know what he says.

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Replying to Elvis11:
RLI
By lionofludesch
23rd Mar 2017 09:26

Jaysus - he won't know !!

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Replying to lionofludesch:
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By Elvis11
23rd Mar 2017 09:48

Of course he won't.
But I would like to inconvenience him/his lackeys. It's about time that these muppets were challenged. Accountants are largely hopeless at complaining/protesting about idiotic ideas.

I also added this sentence for good measure:

"Incidentally, MTD will inevitably be a complete disaster. It is an utterly flawed concept which will reduce tax revenues, lower productivity, increase the size of the informal economy and discourage enterprise. It is hard to think of how the policy could be worse."

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