PolicyChancellor delays digital tax plan for smallest businesses

Chancellor delays digital tax plan for smallest businesses

Smallest businesses to have an extra year to prepare for digital change

The decision to delay the start of the government’s Making Tax Digital reform for the smallest business has been announced by Chancellor Philip Hammond as part of his 2017 Budget.

New digital tax plans will require businesses to issue quarterly digital updates to HMRC from April 2018 onwards. Annual tax returns will also have to be filed online. The move has, however, drawn criticism and built concerns amongst small businesses who are struggling to be ready by the proposed deadline.

Hammond said: “In a digital age, it is right that we develop a digital tax system,” before going on to confirm that unincorporated businesses that have turnover below the VAT registration threshold will have an extra year to prepare for the reforms.

The Budget Statement said: “This will provide them with more time to prepare for digital record keeping and quarterly updates.”

Related Articles

Blueprint for government modernisation calls for 'Lego block approach'

Digital Transformation Blueprint for government modernisation calls for 'Lego block approach'

6m Austin Clark
CRM can help local authorities avoid costly FOI sanctions

Cyber Security CRM can help local authorities avoid costly FOI sanctions

6m Guest Writer
Voter ID trials ‘unnecessary and overbearing’

Policy Voter ID trials ‘unnecessary and overbearing’

7m Austin Clark
NHS Digital publishes guidance on data off-shoring and cloud computing

Cloud Computing NHS Digital publishes guidance on data off-shoring and cloud computing

8m Austin Clark
Rule changes to speed up rollout of mobile and fast broadband in rural areas introduced

Policy Rule changes to speed up rollout of mobile and fast broadband in rural areas introduced

9m Austin Clark
High speed broadband to become a legal right

Digital Transformation High speed broadband to become a legal right

9m Austin Clark
New technologies could help cut delays and disruption to Britain’s infrastructure

Data Insight New technologies could help cut delays and disruption to Britain’s infrastructure

9m Austin Clark
Scottish Government maps out online ID assurance service

Digital Customer Service Scottish Government maps out online ID assurance service

9m Austin Clark