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No Accounting for Taste ep 139: MTD ITSA, quarterly reporting and the power of AI

On this week's podcast, the AccountingWEB editorial team discusses ICAEW's letter to HMRC urging the tax authority to consider "fresh thinking" over the much-maligned MTD ITSA, and they round up the latest updates and announcements from the accounting tech vendors. 

11th May 2023
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Due to a delay from HMRC earlier this year in introducing MTD ITSA, many believed that the widely criticised policy would remain absent from the news cycle until its introduction in 2026. However, some are viewing this delay as an opportunity to encourage HMRC to change course.

In a letter to the tax authority, the ICAEW has called on HMRC to consider "fresh thinking" leading up to the implementation of MTD ITSA, with the accountancy body proposing that eliminating quarterly reporting could significantly alter the narrative of MTD ITSA.

In this week's podcast episode, Richard Hattersley and Tom Herbert examine ICAEW's unexpected intervention in the MTD discussion and question whether HMRC could potentially make further concessions before MTD-Day.

Also featured on the podcast this week, Tom shares his experiences from this year's Accountex in light of numerous announcements from tech vendors, and engages in conversations with some of the prominent figures in the fintech sector about the power of AI.

Podcast speakers:
Richard Hattersley
Tom Herbert

Podcast producer:
Will Cole

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