Still genuinely struggle with how this can possibly work for the majority of taxpayers who rely heavily on their accountants. Is the plan still to require quarterly returns within a month of the quarter end?
‘HMRC provided this answer: “MTD ITSA will mean that customers move closer to a system of real-time reporting which will have various benefits for them and HMRC. “‘
Funny they can claim benefits while not being able to give credible examples!
Will a self-employed taxpayer need to acquire software to submit these two figures?
Exactly. I made the point on the AA thread that surely 2 or 3 numbers a quarter can be manually entered onto the taxpayers online SA record. How much is the cheapest software likely to cost annually?
My answers
Still genuinely struggle with how this can possibly work for the majority of taxpayers who rely heavily on their accountants. Is the plan still to require quarterly returns within a month of the quarter end?
You’ve answered your own question there.
You have to laugh:
‘HMRC provided this answer: “MTD ITSA will mean that customers move closer to a system of real-time reporting which will have various benefits for them and HMRC. “‘
Funny they can claim benefits while not being able to give credible examples!
Exactly. I made the point on the AA thread that surely 2 or 3 numbers a quarter can be manually entered onto the taxpayers online SA record. How much is the cheapest software likely to cost annually?