MTD 2: How ready is HMRC?
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About this session
Is HMRC ready for MTD? On 3rd August we covered the second phase of MTD, and unleashed a torrent of questions and concerns. In response, Rebecca Benneyworth has asked HMRC’s deputy head of MTD, Lee Farrington, to come along and brief the audience on his plans in our follow-up.
With questions still to be addressed on what information is required and which records will need to be kept for submission for income tax, information on HMRC’s implementation timetable and how tax advisers fit into the new processes is crucial.
Paul Aplin, ex-president and tax faculty chairman ICAEW, returns to ensure that agents are properly catered for as MTD evolves while Lee Farrington will set out in more detail how HMRC plans to roll out the next phases of MTD and how the department will involve accountants in that process.
Join this session to discuss:
• How will quarterly income tax work?
• How ready is HMRC to implement MTD phase two and where is it likely to encounter obstacles?
• What developments are planned for Agent Services and the API infrastructure?
• What has HMRC learned from phase 1 of MTD to improve the 2.0 version?
Limit: 500 places
About The Great Debate:
Every episode, award-winning tax and practice guru Rebecca Benneyworth joins with AccountingWE John Stokdyk and a brains trust of experts to map out the challenges facing the profession and suggest a programme of practical ideas to deal with them.
Rebecca Benneyworth MBE is a long-standing industry expert, tax lecturer and writer, and recently won this year's Outstanding Achievement Award at the Accounting Excellence Awards. Rebecca has been a tax lecturer on the CPD circuit for 25 years, having run a small accountancy practice for 30 years. She is passionate about enabling small businesses and start-ups to flourish, and loves to work alongside business owners to help them reach their full potential.
John Stokdyk is AccountingWEB's editor-in-chief and has been with the site since 1999. John is a member of the Advisory Board for AccountingWEB Live's debut exhibition in December 2020.