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What's the latest on Making Tax Digital?

19th Dec 2018
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Award winning Digita Software from Thomson Reuters.

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With Making Tax Digital (MTD) for VAT on the horizon, Thomson Reuters tax expert Mark Purdue has given an update on what is happening with extending MTD to cover other taxes.

Mark gives us insight on recent changes in the last week, detailing what is still on track for delivery by HMRC. Mark says:

It is worth saying that the driver for these changes is not due to any change in attitude towards MTD by HMRC, but are the consequence of the need to prepare for the UK leaving the EU – in simple terms the MTD resources and staff are needed elsewhere.

He also discusses Income Tax, and confirms that the current pilot for sole traders and rental landlords will continue, and in mid-2019 it will be extended to cover reporting of savings interest, dividends and Gift Aid payments. He does suggest that what happens next remains unclear, due to the small matter of Brexit. Mark states: "MTD is not going away, but for the moment priorities have shifted to more pressing areas."

Read more about Mark's views on the mandation of Income Tax, MTD for corporates, and what happen is likely to happen next.

About Mark Purdue

Mark has spent over 25 years working in tax, beginning his career as a Revenue Officer at HMRC, and then becoming Tax Senior for a UK stockbroker. Mark joined Thomson Reuters in 2006 and now holds the position of Tax Product Manager. Mark was named AccountingWEB’s 2017 Software Excellence Pioneer for his commitment to the accounting profession and client satisfaction. He and the team are currently working closely with HMRC to develop software solutions for Making Tax Digital.

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