Be an MTD guinea pig…

From today, I will endeavour to find something of interest to tax practitioners and post it on this blog. Often this will be link to web publications that I believe will be of interest.

Occasionally, I may attach complimentary material that you can use in your practice to cross-sell or win new clients.

Today, I’d like to share a call I had recently with HMRC’s Making Tax Digital team.

You may have noted that HMRC are aiming to trial, beta test, their MTD systems by offering early registration to UK tax payers.

I still have a small practice, a partnership, but the thought of exposing a self-employed trader to un-tried MTD compliance systems did not fill me with confidence. However, I am of the opinion that it is best to find out as much as you can about system changes, particularly one as far-reaching as MTD, so I have volunteered my practice as a guinea pig…

Apparently, HMRC will be flexing the sole-trader systems firstly, from April 2017 (next month), and in short order, thereafter, partnerships.

I recommend that you consider joining this trial process. Your practice may not qualify (if you are incorporated) but you may have a client that would agree to volunteer, if you did all the work pro-bono, as a learning process for the practice.

The post spring budget MTD policy paper can be accessed from the following link, just in case you are short of reading material. 

And if you are tempted to join in the trial, you can contact Chris Kelly of the MTD team at:

Chris Kelly
Making Tax Digital for Business
Customer Readiness & External Stakeholder Team
03000 568924 / 07799 341716
Dukes Court, Duke Street, Woking, Surrey,GU21 5XR