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MTD: Monthly reports may be needed

Four million taxpayers will need to submit quarterly plus end of period reports for each trade and property business, leading to multiple submissions for different periods under MTD for income tax.

19th Feb 2021
Tax Writer Taxwriter Ltd
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MTD reports
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MTD for income tax has now morphed into MTD for income tax self-assessment (ITSA), and HMRC are now referring to the regime as ‘MTD ITSA’.

HMRC estimates there are four million businesses that pay income tax, but who are not VAT registered, so they are not already keeping digital business records. All of these businesses need to enter the MTD ITSA regime from April 2023 (see start dates below).  

What reports are required?

For each trading or property business the taxpayer operates they will have to submit a quarterly report of income and expenses in defined categories. The taxpayer will also have to submit an end of period statement (EOPS) for each of those businesses (the fifth report).

The MTD ITSA regime will incorporate all of the reporting required on the current SA tax return into a ‘finalisation’ or ‘crystallisation’ statement. This statement will bring together all of the information included in the MTD reports, plus other taxable income (such as investment and employment) to calculate the tax liability for the tax year. 

The draft MTD ITSA regulations (see developer hub policy update) indicate that individual landlords must submit separate quarterly updates for each category of property business (eg long term letting, FHL, overseas lettings).

All property businesses must use the tax year as the accounting basis period, but trades can use any accounting period. The quarterly reports are due exactly one month from the end of each of the quarter, which contrasts with one month and seven days after the end of the quarter for VAT.

The EPOS and the finalisation statement are both due by 31 January after the tax year end.

Example 1

Shaun is a self-employed builder who makes up his accounts to 30 April, and his VAT returns are submitted for the quarters to the end of April, July, October and January. He also lets two residential properties, one as furnished holiday accommodation (FHL) and the other as a long term let.

Shaun’s pattern of MTD reporting will be:

Month Property businesses: 5 April year VAT returns  Building trade: 30 April year end EOPS and year end finalisation
January       31 Jan x 3 EPOS31 Jan: Finalisation
February 5 Feb x 2   28 Feb  
March    7 March    
April        
May 5 May x 2   31 May  
June   7 June    
July        
August 5 August x 2   31 August  
September   7 Sept    
October        
November 5 Nov x 2   30 Nov  
December   7 Dec    
Total reports 8 4 4 4

Shaun needs to submit a quarterly MTD report for each of his property businesses and his building trade, an EOPS for each of those businesses, four VAT returns and a finalisation statement – a total of 20 reports to HMRC for each tax year.

Start dates

The mandation dates for MTD ITSA were announced in July 2020 and will be follows:

  • Existing property income: 6 April 2023
  • Existing trading income: first accounting period starting on or after 6 April 2023
  • New property business: 6 April following the start date
  • New trade: start of accounting period in year three

Individuals who have a combined gross income from all trades and letting businesses in excess of £10,000 per year are within scope of MTD ITSA. These people may not be liable to pay any income tax as the entry test is based on gross income not net, and the personal allowance will cover small profits up to at least £12,570.

Example 2

Jade lets her first investment property from 1 June 2023, and also starts a new trade as a self-employed diving instructor from 1 May 2023, making up accounts to 30 April. She will have to come within the MTD ITSA regime from these dates:

  • Property business: from 6 April 2024
  • Self-employed trade: from 1 May 2025

Combinations and mismatches

If Shaun in Example 1 uses the same accounting/MTD-compatible software for all of his property businesses and his building trade, that smart software may combine some of his MTD reports into a single submission. For example, his quarterly reports for his property businesses may be submitted together and all three EOPS may be delivered in one action.

HMRC intends to give businesses some flexibility to align their quarterly reporting periods, but this point is still being debated between the professional bodies and HMRC. The quarterly periods must be matched to the accounting basis periods.

It is clear that some simplification of the tax rules for accounting basis periods is required to make the implementation of MTD run smoothly for small businesses and landlords. The ICAEW has called for this in its Budget representations.

Change the tax year

ICAEW has also asked that the tax year end be changed to align with the end of a calendar month. Moving the year end back from 5 April to 31 March would be easiest to achieve.

However, Anita Monteith has argued more boldly in the FT that the UK should follow the Irish example and change its tax year to the calendar year, to make it more competitive internationally. The Republic of Ireland changed to a 31 December tax year end in 2002 when it joined the Euro.

Tune in to next Wednesday's Tax Talk to hear leading tax expert Rebecca Benneyworth help you stay up to date with legislation changes and share tips on how to get ready for Making Tax Digital.

Replies (185)

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By Open all hours
21st Feb 2021 20:38

This was embargoed until April 1st, right?

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By Ajm85ajm
22nd Feb 2021 09:12

Helpful article - thank you.

What % of those affected by MTD ITSA are in a situation similar to Shaun? We've been working on MTD ITSA for a long-time but aren't aware of any definitive published numbers.

As it stands, Shaun's pattern of MTD reporting isn't quite right. There is one End of Period Statement (and one set of quarterly obligations) per UK property business, irrespective of whether that includes long-term letting, FHL or both.

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By 0098087
22nd Feb 2021 09:37

I wonder if I can make enough money selling my house down south to move up north and take a job stacking shelves at Tesco to be done with all this nonsense/

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Replying to 0098087:
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By North East Accountant
22nd Feb 2021 13:27

Check out the temperatures first it get cold up here..... and you're only allowed out in a shirt (Man) or mini-skirt (Woman)........ even in winter.

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Replying to North East Accountant:
RLI
By lionofludesch
23rd Feb 2021 06:49

North East Accountant wrote:

Check out the temperatures first it get cold up here..... and you're only allowed out in a shirt (Man) or mini-skirt (Woman)........ even in winter.

Cue "I predict a riot" by the Kaiser Chiefs.

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David Ross
By davidross
22nd Feb 2021 09:43

Am I the only cynic about these scare stories?

At the very least "Shaun" has been very badly advised by his accountant to still be using 30 April as his accounting date - at least he has the Accounts and VAT in sync. Does he have a nasty shock waiting for him on Overlap Relief because he was not 'converted' when Self Assessment came in?

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Replying to davidross:
RLI
By lionofludesch
22nd Feb 2021 10:08

davidross wrote:

Am I the only cynic about these scare stories?

At the very least "Shaun" has been very badly advised by his accountant to still be using 30 April as his accounting date - at least he has the Accounts and VAT in sync. Does he have a nasty shock waiting for him on Overlap Relief because he was not 'converted' when Self Assessment came in?

Well, I keep saying this, but - it depends. You assume that profits will continue to rise indefinitely. Mine are on the wane. By design, as I wind down towards retirement. With the added advantage of being able to push a large wedge of profits into years post Class 4 NIC, which, in itself, has saved me a couple of grand.

Overlap relief can be a massive cash flow advantage, properly managed, with the right client.

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Replying to davidross:
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By Ajtms
22nd Feb 2021 13:05

A 30 April end of year date is essential to have time after the accounts have been prepared to plan and pay pension contributions. A 31 March end of year does not work as by the time your accounts are prepared it is too late to make a pension contribution. We accountants need time to prepare accounts and 31 April y/e gives us that time

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neand
By neanderthal
22nd Feb 2021 10:01

How the heck are accountants going to cope with preparing quarterly accounts for filing with HMRC for almost all their clients every quarter? as it is we can hardly cope with meeting VAT deadlines(on top of all the other deadlines)! Professional bodies have to stand up to their role for once representing their members. there is no other way.
the Govnt real objective is th get rid of small business accountants, as they believe this will lead to much more taxes. that's the only reason.
The only hope is for accountants to get togeher and lobby either though the Bodies or separately.

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Replying to neanderthal:
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By Homeworker
22nd Feb 2021 10:29

and don't forget we will have the previous year's accounts and tax returns to deal with at the same time!

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Replying to neanderthal:
David Ross
By davidross
23rd Feb 2021 09:58

neanderthal wrote:

How the heck are accountants going to cope with preparing quarterly accounts for filing with HMRC for almost all their clients every quarter?

With technology

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Replying to davidross:
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By Carolynne
23rd Feb 2021 10:15

Davidross, using technology still takes time. And if you mean the client using it, think again.

An awful lot of my self employed clients don't even know how to use their phones properly and would not know where to start with software or on a computer. I suppose they are supposed to also take a course in book keeping and do their own, knowing what codes to put things to, and of course discern whether it is a valid VAT receipt or not.

It will take more time in us undoing their errors than inputting it in the first place, except there is no more time to process these additional submissions. HMRC are in cloud cuckoo land with this one.

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Replying to davidross:
RLI
By lionofludesch
23rd Feb 2021 10:32

davidross wrote:

neanderthal wrote:

How the heck are accountants going to cope with preparing quarterly accounts for filing with HMRC for almost all their clients every quarter?

With technology

Technology and the client's competent co-operation.

Which he may not be able to give.

And there's the Achilles heel in the legislation. If all clients were able to keep their records on software - with no more than a few errors - MTD would be a doddle.

I'm beginning to foresee a large number of non-techy taxpayers being abandoned by their techy accountants on the grounds that they are unprofitable.

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Replying to lionofludesch:
neand
By neanderthal
23rd Feb 2021 11:04

with technology? !!! you are very optimistic. I woder if you live in the real world or if yuu are one of them plants from the HMRC.

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By silverghost
22nd Feb 2021 09:51

Damn this for a game of soldiers. Let's just tell our business clients & landlords to report (or report for them) £1000 per quarter, then once a year submit the annual accounts less £3k.

If HMRC complain, tell them to disprove it by sending out inspectors to review the records. How likely is that to happen?

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By Mr J Andrews
22nd Feb 2021 09:55

It seemed like a good idea at the time - or so someone thought. But sadly rather than own up and say we got it completely wrong , this government will carry on with this tinkering regardless.
Come on Sunak . You've learned one hell of a lot about the plight of small businesses in the past year. Now is the time for furthering your common sense approach and abolish the dumb stupidity of your predecessor.

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By Rgab1947
22nd Feb 2021 09:55

I admit. Reading the article I just read work, work, work, fixing clients errors weekly/monthly, trying to invoice this time and I got very, very tired.

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By North East Accountant
22nd Feb 2021 10:00

It's insanity.

Joint property income....... no-one has a clue how to deal with that including HMRC.

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By Luke.J.fletcher
23rd Feb 2021 13:03

With MTD for corporation tax not due to come in until 2026 (at the earliest) a sole trade could incorporate and avoid this headache for at least 3 years. Okay, so perhaps a bit heavy handed and it may not be possible for property businesses (stamp duty issues etc etc.) but then again it may. Perhaps by late 2022 we will also have a view as to what MTD for corporation tax will look like...it may not be so onerous with the requirement to do multiple returns based on nature of business (property, trade etc), which again could make it more attractive with just 5 returns regardless of whether a company is purely trading, trading and rental, or investment only.

And all this against a backdrop of inevitably changing tax rates to reduce to deficit from the pandemic which will no doubt make one or the other more or less attractive.

One thing is for sure...clients will be needing advice.

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Replying to Luke.J.fletcher:
RLI
By lionofludesch
22nd Feb 2021 10:35

Luke.J.fletcher wrote:

With MTD for corporation tax not due to come in until 2026 (at the earliest) a sole trade could incorporate and avoid this headache for at least 3 years.

Yeah, I did something similar with the VAT. Moved most of them on to annual accounting and bought another year for them to get on board with the software.

I never really considered annual but one client likes it so much, he's not going to switch back.

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Replying to Luke.J.fletcher:
By Silver Birch Accts
22nd Feb 2021 13:05

Don't forget the changes planned by Companies House, including a more difficult process for incorporations.

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Replying to Silver Birch Accts:
RLI
By lionofludesch
23rd Feb 2021 11:18

Silver Birch Accts wrote:

Don't forget the changes planned by Companies House, including a more difficult process for incorporations.

I'm not sure that's a bad thing. It took about 125 years to get to the millionth company, twelve years for the next million, nine for the third. Since then, over nine million in 25 years.

A lot of those have, no doubt, left debts behind.

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By Luke.J.fletcher
22nd Feb 2021 10:01

Duplicate post

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By mikeyban
22nd Feb 2021 10:05

The problem is that HMRC do not have advisors( to aid them in bringing in the appropriate systems) who deal with the shoe box clients who it is impossible for them to input figures as quite frankly they can barely write in a book.... that is not a criticism they were not good academically but are superb tradesman. Why add to the current level of complexity? If they want the tax earlier just base quarterly payments on the previous year. I think that the threats of people 'leaving the profession' have been previously just frustration but this time it is real. Perhaps that is what HMRC want the ability to remove the accountant. However that is a big mistake as we are the glue that keeps the system working.

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Replying to mikeyban:
blue sheep
By NH
22nd Feb 2021 10:16

mikeyban wrote:

If they want the tax earlier just base quarterly payments on the previous year.

Or perhaps it would just be better to pay your tax quarterly based on your figures for the quarter just ended so you dont have a heart attack when your accountant tells you almost 2 years later you have a huge bill - now theres a radical thought

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Replying to NH:
RLI
By lionofludesch
22nd Feb 2021 10:30

NH wrote:

mikeyban wrote:

If they want the tax earlier just base quarterly payments on the previous year.

Or perhaps it would just be better to pay your tax quarterly based on your figures for the quarter just ended so you dont have a heart attack when your accountant tells you almost 2 years later you have a huge bill - now theres a radical thought

Not radical at all.

Folk can do that now. If they wish. No need to drag the rest of us into it.

Those who fancy doing that can have their accountants prepare quarterly accounts. Or prepare them themselves - as many do with varying levels of success.

No problem.

The fact that few, if any, folk do that at the moment reflects the lack of demand. Out of interest, would you be prepared to say what proportion of your clients take up this forward-thinking service ?

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Replying to lionofludesch:
blue sheep
By NH
22nd Feb 2021 10:43

lionofludesch wrote:

NH wrote:

mikeyban wrote:

If they want the tax earlier just base quarterly payments on the previous year.

Or perhaps it would just be better to pay your tax quarterly based on your figures for the quarter just ended so you dont have a heart attack when your accountant tells you almost 2 years later you have a huge bill - now theres a radical thought

Not radical at all.

Folk can do that now. If they wish. No need to drag the rest of us into it.

Those who fancy doing that can have their accountants prepare quarterly accounts. Or prepare them themselves - as many do with varying levels of success.

No problem.

The fact that few, if any, folk do that at the moment reflects the lack of demand. Out of interest, would you be prepared to say what proportion of your clients take up this forward-thinking service ?

None at all of course because it's not mandatory, thats the whole point!!

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Replying to NH:
RLI
By lionofludesch
22nd Feb 2021 10:53

NH wrote:

None at all of course because it's not mandatory, thats the whole point!!

Well, not really.

You say it's a great idea.

But you can't sell it to your clients. They don't want it.

So why do you ? Is it to boost your fees ? Are you a workaholic ? Or what ?

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Replying to lionofludesch:
blue sheep
By NH
22nd Feb 2021 11:41

lionofludesch wrote:

NH wrote:

None at all of course because it's not mandatory, thats the whole point!!

Well, not really.

You say it's a great idea.

But you can't sell it to your clients. They don't want it.

So why do you ? Is it to boost your fees ? Are you a workaholic ? Or what ?

Never said it was a great idea, but that is the whole point - you don't have to sell legislation, you just have to implement it and enforce it, why would anyone want to pay tax a year earlier than they do, answer is no one, hence the need for legislation

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Replying to NH:
RLI
By lionofludesch
22nd Feb 2021 12:44

NH wrote:

Never said it was a great idea, but that is the whole point - you don't have to sell legislation, you just have to implement it and enforce it, why would anyone want to pay tax a year earlier than they do, answer is no one, hence the need for legislation

Well, that's a massive volte face from your post of 9.41 yesterday

I am confused about those still asking why this needs to be done.

but it's good to see that you're coming round to our way of thinking.

It might be a good idea but what it definitely is is an expensive one.

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Replying to lionofludesch:
blue sheep
By NH
22nd Feb 2021 13:15

lionofludesch wrote:

NH wrote:

Never said it was a great idea, but that is the whole point - you don't have to sell legislation, you just have to implement it and enforce it, why would anyone want to pay tax a year earlier than they do, answer is no one, hence the need for legislation

Well, that's a massive volte face from your post of 9.41 yesterday

I am confused about those still asking why this needs to be done.

but it's good to see that you're coming round to our way of thinking.

It might be a good idea but what it definitely is is an expensive one.

I am afraid you have made some massive incorrect assumptions there.

For the record, my opinion has not changed since we had these debates a few years ago. MTD is a good idea, the way it is being implemented is not (yet).

I have never said it is a great idea, however I firmly believe that there are advantages to bringing the UK into the modern era and encouraging businesses to report more regularly and to pay tax as you go.

As we have had this MTD debate many times already my comments on this thread have been purely regarding the inevitable outcome which will be to pay tax earlier more in line with PAYE, VAT etc which as I have said numerous times makes much more sense for the UK as a whole and brings us in line with other countries.

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Replying to NH:
RLI
By lionofludesch
22nd Feb 2021 13:35

NH wrote:

I am afraid you have made some massive incorrect assumptions there.

For the record, my opinion has not changed since we had these debates a few years ago. MTD is a good idea, the way it is being implemented is not (yet).

I have never said it is a great idea, however I firmly believe that there are advantages to bringing the UK into the modern era and encouraging businesses to report more regularly and to pay tax as you go.

As we have had this MTD debate many times already my comments on this thread have been purely regarding the inevitable outcome which will be to pay tax earlier more in line with PAYE, VAT etc which as I have said numerous times makes much more sense for the UK as a whole and brings us in line with other countries.

Well, it's nice to have a minority view.

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Replying to lionofludesch:
blue sheep
By NH
22nd Feb 2021 13:42

lionofludesch wrote:

Well, it's nice to have a minority view.

Yep, fully accept that, happy that way

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@enanen
By enanen
22nd Feb 2021 10:05

Great. I now have my retirement date from the profession.

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Replying to enanen:
boxfile
By spilly
22nd Feb 2021 13:27

And I have a plan for winding down towards retirement. Ditch all the sole traders and clients with property income first, then carry on with the small Ltds until I finally can get my state pension (unless that date gets pushed back yet again by the Govt).

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By BryanS1958
22nd Feb 2021 10:10

As usual the ICAEW seems to be more interested in jumping on media, political and social engineering bandwagons such as the Charter for Black Talent and #10000blackinterns (why is it seeking positive discrimination in favour of Blacks, instead of pushing for a level playing field for everyone?) than it does about representing businesses. I guess the president is just lining himself up for a knighthood.

The professional bodies shouldn't even be negotiating on the 'best' way to introduce these farcical MTD rules, they should just be saying they should not be introduced at all. The only sector that will benefit is the software industry.

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By Ammie
22nd Feb 2021 10:14

I have to laugh to alleviate the painful thought of this total ill thought out nonsense.

No doubt there are underlying motives extending well beyond the purpose of accelerating tax receipts. The fines will be very handy I am sure. I have my own thoughts, but here and now is not the time and place!

Small businesses will be strangled to death, some will "disappear" and some will instruct us to deal with and effectively leave us with 5 x deadlines each with the "annual January" experience. The additional compliance costs will also be a major problem and may give birth to other questionable practices and issues I am sure. Improved efficiency will only take you so far.

Ultimately, certainly for the small business, it will end up being an exercise of provisional figures for the first 4 reports and the fifth being normal service.

If HMRC have an iota of common sense they will need to revisit the whole thing and draw up a more practical approach, perhaps with the introduction of sensible thresholds at which such nonsense becomes necessary. For trades I would suggest the first being no lower than the VAT threshold.

Mix in the business and economic effects of Covid and Brexit which will take us well into the beginning of this, and the much anticipated budgets and the chancellors plans to claw back £400bn+ as well as everything else, and we will have a very stormy ride!!

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By ralarsen
22nd Feb 2021 10:32

Just worked these rules out for my parents, my husband, my brother and I. Currently 7 returns for our businesses, from 6/4/23 we will be doing 52 returns per year - total insanity.

I can't see how I can get my clients to move to this rubbish. I'll need 4 times as many staff and that has got to have a knock on effect of quadrupling the fees.

I think there will be an awful lot of penalties flying round the system.

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Replying to ralarsen:
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By North East Accountant
22nd Feb 2021 13:36

Good idea doing this but terrifying results........

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By Marlinman
22nd Feb 2021 10:47

The annual tax return will never be abolished as many figures aren't known until after the year end. The interim submissions will be a waste of everyone's time. Its a shame hmrc went to town on Osbornes cretinous budget speech as he isn't even an accountant.

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Scooby
By gainsborough
22nd Feb 2021 11:04

There have been a couple of petitions in the past on this - one got 492 signatures and the other got 90. https://petition.parliament.uk/archived/petitions/167738. Most landlords/self-employed individuals would have heard some initial rumblings in 2017 but very little has been announced since so most will be blissfully unaware.

Does anyone know of the best way to get our Institutes to fight on our behalf? Individual emails to them seem to have no affect.

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neand
By neanderthal
22nd Feb 2021 11:34

connect the dots. small busines accountants are expendable. the technology is there. it suits all.

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By kdbr
22nd Feb 2021 11:21

It won't just be small businesses that disappear, but many many small practitioners too. Unable to find the time to service clients with whom they currently meet once or twice per year; and clients unable to meet the costs of the required increased activity. So the clients are forced to find larger firms with greater resources, and greater charge out rates where once they were used to personal service. The businesses unable to justify the hike in compliance costs take rational decisions. Uber seems more attractive...for all.

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By the_fishmonger
22nd Feb 2021 11:22

MTD is not the problem, since that's only the framework for the reporting.

* The actual problem is more frequent reporting *

Those putting forward this daft idea of regular reporting:

1) do not truly understand what is involved or what the various accountants, bookkeepers and data-entry clerks actually do and the time it takes to do it.

2) have no concept of how much additional work 'carrier bags full' clients will require to get the records digitalised.

Whilst we know that it's not difficult work in most cases, it is extremely time consuming (even when using 3rd party products such as Receipt Bank or Autoentry).
The proponents seem to equate easy with quick when it is in fact slower to process the paperwork with the introduction of cloud software, especially those that do not allow for a simple keyboard only approach to data entry.

3) have no concept of how averse many business owners are to dealing with admin and accounts in particular.

4) do not accept that no matter how much help/training is given to some clients, they will never be able to deal with bookkeeping.

5) do not accept that many small businesses are unable to afford bookkeepers and/or accountants.

6) do not understand the differing work of accountants, bookkeepers and data entry clerks. Instead they think it’s just the same job with different titles.

Ironically, some of the divisors probably benefit from the services of very good accountants but still don’t think we do more than “type bills and receipts into Sage”.

The only way that this will come to fruition is a huge increase in the numbers of bookkeepers at rock bottom hourly rates.

To achieve this, I can only imagine we’re going to see Indian, Philippine and similar low labour cost economies advertising ‘take a photo of everything’ packages to those small turnover traders.

I fear for our collective sanities and wellbeing

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neand
By neanderthal
22nd Feb 2021 11:44

i think there is an agreement this will jeopardise not only accountants' but also clients' wellbeing and very existence. So, enough with words. I dont think we can rely on Bodies. they are just there to pursue their own interests and never really represented their members' interests when it mattered. We need to understand that we have power if we are united and think of ways to react against this attack on our practices and families. I am making myself aavailable to anyone to discuss about possible ways and get this organised.

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By Jeewajee
22nd Feb 2021 12:26

Absolutely Bonkers. Those involved in making it a reality should go back to the drawing board and come up with simplification as its core foundation. The Office of Tax Simplification, please rise up to the challenge.

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Tornado
By Tornado
22nd Feb 2021 12:33

I reckon that only 20% of my clients have signed up to a Business Tax Account or a Personal Tax Account yet the Government expect to communicate with us through these Accounts. I have tried for several years now to get people to check their own tax through these accounts but there is practically no interest.

Those that have signed up get back to me anyway as they do not understand the HMRC way of accounting for tax liabilities and amounts paid, often ending up with several pages of complex calculations that at the end show an amount due that relates to nothing. If I go in to have a look I usually find that because I am looking a few days after my client, many of the figures have changed and cannot be reconciled with my client's figures.

There are many problems with the HMRC IT systems not least of all that they are designed by programmers for programmers and no one else understands what it is all about. Why not create Tax Statements that show the position on a particular day and that remains the same forever with later adjustments changing the balance to arrive at a new balance as appropriate. This is the familiar method used by banks and everyone knows where they are with this system.

Only those that like making life difficult for themselves would sign up to their own Tax Accounts. Even I manage my taxes through my Agent Access as it is easier and I have not logged into my Business and Personal Tax Accounts for some two years now.

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By RaxJ
22nd Feb 2021 12:44

Accountants should stop moaning about MTD. Instead of moaning, focus on how to create a system with good processes to manage this new system. I think MTD is an excellent initiative from the government.

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Replying to RaxJ:
RLI
By lionofludesch
22nd Feb 2021 12:55

RaxJ wrote:

Accountants should stop moaning about MTD. Instead of moaning, focus on how to create a system with good processes to manage this new system. I think MTD is an excellent initiative from the government.

Ah - right.

And how do you intend to manage the workload ? Without making it too expensive for the poor taxpayer, obviously.

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By mikejlee
22nd Feb 2021 13:09

A vry good article. Would all accountants sent a copy of this to their MP' please

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