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Chartered Certified Accountants
and Business Advisors

01530 267320

HMRC’s new Making Tax Digital programme may be delayed until 2019

HMRC’s new Making Tax Digital programme may be delayed until 2019 for a large percentage of businesses, the Financial Secretary to the Treasury, Jane Ellison MP, has stated.

There has been mounting concern from businesses as to the time frame for implementing the new scheme and this delay follows on from the announcement that many small businesses and Landlords will be exempt.

Delaying the launch of the new scheme will allow larger businesses time to make the necessary adjustments and prepare.

The Government has also confirmed that the exemption from quarterly returns applying to individuals with secondary incomes of less than £10,000 a year (from self-employment or property) will also now include businesses and landlords with yearly incomes below £10,000.

Sence are watching closely the developments and will keep you updated with all the latest changes as they happen.  In the meantime if you are concerned about what the digital tax accounts mean for your business then please contact Brian or Anna on 01530 267 320 or email info@senceaccounting.co.uk

 

04 Oct 2016

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