Marvellous, so British businesses will be so busy trying to be digital that they will be too busy to actually be productive and generate sales for UK plc!
Basically, all businesses will be employed by Gov.uk and Gov.uk will be too busy making a mess of things, so UK plc will become increasingly uncompetitive.
"However, both Benneyworth and Harra agreed that this time needs to be used wisely and the entire tax profession (HMRC, software developers and agents) need to keep their foot on the pedal in preparing for MTD."
Why does Benneyworth agree? Surely she should be representing the views of most taxpayers and those in the profession, which is that MTD is an expensive waste of everyone's time and resources,and the funds could be much better spent elsewhere e.g. pre-populating overlap relief, manning helplines, etc. MTD seems like another HS2 - perhaps even less useful for most of the population.
I just tried to register for the HMRC community forum, I couldn't register because the CAPTCHA code was blanked out and the audio option was silent. Even if you ask for help you cannot get it!
We tried to ask HMRC in writing to confirm our stance that a supply was exempt for VAT purposes. They refused to confirm! If they don't know then who does?
Perhaps this just shows that we are fools for complying and having associated costs.
None of my clients would know the difference if I stopped being a member. It is only 'useful' (read necessary) for a few regulated areas such as audit, or for some references, etc.
My answers
Interesting article from Tax Policy Associates here:
https://www.taxpolicy.org.uk/2023/11/20/hicbc/?utm_source=substack&utm_m...
and FT here (paywall):
https://www.ft.com/content/93258d2b-7d22-4e18-a23b-835e12c49b15?utm_sour...
Marvellous, so British businesses will be so busy trying to be digital that they will be too busy to actually be productive and generate sales for UK plc!
Basically, all businesses will be employed by Gov.uk and Gov.uk will be too busy making a mess of things, so UK plc will become increasingly uncompetitive.
"However, both Benneyworth and Harra agreed that this time needs to be used wisely and the entire tax profession (HMRC, software developers and agents) need to keep their foot on the pedal in preparing for MTD."
Why does Benneyworth agree? Surely she should be representing the views of most taxpayers and those in the profession, which is that MTD is an expensive waste of everyone's time and resources,and the funds could be much better spent elsewhere e.g. pre-populating overlap relief, manning helplines, etc. MTD seems like another HS2 - perhaps even less useful for most of the population.
I think the point is to get a reliable opinion from HMRC before filing, rather than to have to incur time and costs after filing.
I just tried to register for the HMRC community forum, I couldn't register because the CAPTCHA code was blanked out and the audio option was silent. Even if you ask for help you cannot get it!
We tried to ask HMRC in writing to confirm our stance that a supply was exempt for VAT purposes. They refused to confirm! If they don't know then who does?
Yes, mortgages can consideration for SDLT purposes.
That headline should be amended to say 'An enormous amount of unnecessary work'.
If it ain't broken, don't try and fix it.
Perhaps this just shows that we are fools for complying and having associated costs.
None of my clients would know the difference if I stopped being a member. It is only 'useful' (read necessary) for a few regulated areas such as audit, or for some references, etc.
I wouldn't let that detract from the well made points.
If they are worried about whether the accountant is using the right terminology, it just goes to show what a lot of jobsworths the regulators are!
How about they concentrate their resources on finding crime?