Making Tax Digital – Further Delay

by Patrick Garratt - 14th May 2017

The Chancellor’s March Budget announced a delay of the ‘Making Tax Digital’ policy; there is now more good news for landlords and small businesses as the Government dropped the policy completely from the Finance Bill which was the last Bill to be debated in the Commons before Parliament adjourned for the General Election.

This could mean the implementation of the policy will be delayed even further, and even raises the possibility that it could be completely scrapped.

The policy it’s self will require small business owners, the self-employed and landlords to provide quarterly digital updates to HMRC.

The Chancellor recently announced that the policy would be delayed by one year for unincorporated businesses with a turnover below the VAT threshold (currently £83,000); the policy was due to continue for others from April 2018, this, however, now looks unlikely to go ahead considering that the policy was dropped from the proposed Finance Bill.