Anonymous
Share this content
0
409

What's happening about the MTD age exemption?

HMRC told me that the MTD age exemption would be explained in November 2018.

I phoned HMRC a couple of months ago and I got the phone call retuurned and they explained that the MTD age exemption wouuld be explained in November 2018 but so far I haven't seen anything.

Peter Saxton

Replies

Please login or register to join the discussion.

07th Dec 2018 15:55

Hi Peter,

Nice to see you on the site. As Kevin Ringer points out here:

https://www.accountingweb.co.uk/community/blogs/kevinringer/hmrc-fail-mt...

HMRC has failed to publish its exemption criteria "due to unforeseen circumstances".

More when we know more!

Tom

Thanks (0)
to TomHerbert
07th Dec 2018 17:13

Tom
Thank you for that. Today I was preparing the tax return for a client who is 70 and she has nearly £50k of rental income. Although she is very fit and bright I don't think she would have the slightest interest in doing her own bookkeeping. I would expect she would qualify for any age exemption that HMRC produce. If she didn't fall into that category she would expect me to do her bookkeeping - which would cost considerably more than I charge her now. She would also need to set up a bank account rather than use a combination of cash and building society account that she uses now. I think many clients a lot younger than her will not see why they should change their way of working to suit HMRC.

Thanks (0)
avatar
to petersaxton
07th Dec 2018 22:03

Quote:

I think many clients a lot younger than her will not see why they should change their way of working to suit HMRC.

Exactly. Having a blanket age exemption seems discriminatory. I think I will tell HMRC that I "identify" as 100 years old and that should get me out of my obligations.

Thanks (1)
avatar
08th Dec 2018 10:51

Is your client VAT registered. If not you don't have a problem for a long time yet

Thanks (0)
to bernard michael
10th Dec 2018 10:31

Quote:

Is your client VAT registered. If not you don't have a problem for a long time yet


she's not VAT registered
I don't think April 2020 is a long time - it's less than 18 months
Thanks (0)
to petersaxton
10th Dec 2018 12:40

April 2020 is just the earliest they could possibly bring in MTD for income tax, and that's with an extremely loose definition of "could possibly".

Thanks (0)
Share this content