17 Jul Making Tax Digital – Update
Making Tax Digital (MTD) has been removed from the Finance Bill 2017, along with other clauses due to the forthcoming General Election. Public Bills cannot be carried forward into a new Parliament so they must either be scrapped or passed before the General Election takes place.
The Finance Bill cull has been nothing short of shambolic, leaving taxpayers in limbo and important provisions being dropped at the last minute, despite all the work that has gone into finalising the legislation.
It is very likely that this is only a temporary measure and I do not believe that it is the end of MTD. The dropping of MTD from the Finance Bill may not even delay its implementation date of 1 April 2018, we will have to wait and see if it will be pushed back. Whatever the outcome, I am confident that MTD will resurface in the near future and that the UK will move to a fully digitised tax system sooner rather than later.
Sarah