Last month we saw the government confirm a revised roadmap for its Making Tax Digital (MTD) project, with the requirements for digital quarterly reporting being stripped back to cover only VAT.
Joining the pod this month to discuss this new-found emphasis on VAT are Margaret Curran, Technical Officer from the Chartered Institute of Taxation, Gary Jacobs, director of accountancy practice Eazitax, and Thomson Reuters’ Product Manager – Tax, Mark Purdue.
During recording Curran expressed concern about the perceived oversimplification of the project now the emphasis has moved on to VAT, and highlighted the fact VAT records are kept in a whole variety of ways and subject to many different adjustments.
Jacobs, meanwhile, felt that as a firm currently working with HMRC on the MTD pilot he hadn’t seen anything specifically change.
Mark Purdue highlighted the crucial role that agent services will play in the success (or otherwise) of MTD.
The Making Tax Digital podcast is recorded on a monthly basis. If you have any burning questions you can ask them in the comments box below and our panel will do their best to answer them next time around.
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