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9am Lowdown: Labour MP slams MTD

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24th May 2016
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In this morning's Lowdown, a Labour's Chris Leslie writes a damning piece in the Guardian about the government's MTD plans, and the PCS stands committed against HMRC office closures. 

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Labour MP slams MTD

Labour’s Chris Leslie is the latest name to raise concern about the affect the government’s Making Tax Digital plans will have on small firms.

Writing in The Guardian, the former shadow chancellor called MTD a ‘clear and significant administrative burden’. He continues: “Small firms have enough to contend with on a daily basis, and juggling the requirements to record their transactions and outgoings is hard enough without HMRC adding to the hassle.”

Leslie concludes: “Unless there are clear gains for businesses and not just for HMRC there will be a further erosion of trust and confidence from entrepreneurs in the willingness of the government to listen.”

Tolley's Chris Jones outlines the MTD implications for accountants and small businesses in this video recorded at Accountex:

 

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KPMG warned BHS before sale

KPMG partner David Clarke told the parliamentary committee investigating the sale of the beleaguered BHS sale how the accountancy firm was ‘particularly concerned’ about the buyer, Retail Acquisitions.

According to the BBC, KPMG warned the retailer and its other advisers ahead of the sale. However, Deloitte and PwC did not raise any concerns.  

Speaking at the hearing, Clarke said: "We were particularly concerned about its ability to continue to trade and fund both BHS - which was clearly loss-making - and the [pension] schemes."

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PCS stands resolute against closures

The PCS general secretary told the HMRC group conference that they are standing ‘resolute’ against the announced HMRC office closures.

Speaking at the conference, Mark Serwotka said: “A year on and the attacks on the civil service are escalating”. But Serwotka assured the delegates that the PCS “will support this group in all the battles that are ahead”.

The GEC’s Clive Bryant conceded to “a catalogue of errors in this entire process”, these include issuing of redundancy notices by email.
 

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