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Am I right only the bare minimum of legislation is going to be put through by the current Government? If so, I don't see the quarterly reporting being passed
That is right. Much depends on whether Truss falls for all the made-up savings that MTD is going to deliver, per HMRC. If she does MTD will be in there because of the extra spending the DUP will force through.
But if she is aware that all of the independent people who've looked at MTD think it is a load of Cobblers, she will can it because her career has taken a step backwards in this reshuffle and she'll be the one copping the blame when MTD goes tiits up.
Maybe the funds they were going to expend on MTD are now going to be earmarked for Northern Ireland.
A Bridge too Far, perhaps.
Truss is not known for her listening skills.
She went ahead with the "titan" jails despite all the evidence saying they were a bad plan, in particular with re-offending rates likely to rocket.
Oddly enough the private firms lobbying to build and run the jails don't seem to concerned with repeat custom.
It looks like the Queen's speech is going to contain practically nothing other than Brexit. The Great Reform Bill will take up huge amounts of Parliamentary time, so lots of other stuff such as grammar schools will simply be ditched.
So when it come to MTD, we are left with 2 questions:
1. Will they try to go ahead?
2. If so, how will they go about this?
If they decide to go ahead, I for one will lobby the DUP about it. Having reviewed my own client base, the lower income sole trader people are precisely those most likely to be adversely affected. Northern Ireland, I would guess, much like my own county of Cumbria, will have a higher proportion of those people than the UK average.
I doubt if they will risk putting this into the Finance Bill because that will risk getting the Bill voted down. So we'll be looking at some kind of Statutory Instrument or that sort of thing. Not the most democratic approach of bringing in the biggest change to tax administration of the century so far.
Whatever happens, the election and its aftermath has undoubtedly reduced the chances of MTD going through on schedule in full without a load of watering down.
Good to see the back of Gauke from the Treasury before he got the chance to finally steamroller MTD through, but now we must worry about what antics he might get up to as Work and Pensions Secretary. Hopefully none that affect us. Let another group of professionals put up with him for a few years, financial advisors maybe.