Making Tax Digital (MTD) continues to hit the headlines as speculation intensifies about what form it will take after the General Election. Despite a roll-out schedule being announced in the Chancellor’s March Budget, recent developments such as the thinning down of the Finance Act and removal of MTD-related legislation have prompted further questions and uncertainty.
Why we think Making Tax Digital won’t be canned
Whilst some are hoping MTD will be canned, in reality it is likely to just be delayed. How we at BTCSoftware have arrived at this conclusion, stems from the work we have been and continue to do with HMRC’s digital team – the team charged with developing the technology to make MTD a reality.
A sneak peak to help accountants prepare
So, in a new publication, we’ve revealed the very close work we’ve been doing with HMRC. We hope it will help to shed some light and challenge some of the uncertainty currently surrounding Making Tax Digital. Uncertainty makes it harder for accountants and tax advisers (as well as their clients) to prepare for this significant change. There are however measures they can take to help their MTD learning curve be less onerous.
Helping accountants and their clients become MTD-ready
Irrespective of the result of the General Election, we don’t think MTD will go away. Its long-term benefits are too attractive for any Government to ignore. Whatever the outcome, we will continue to work closely with HMRC to ensure our customers are ready and resilient for whatever the final form of MTD takes.
At BTCSoftware we recognise the major impact MTD will have on UK accounting and tax practices. Our aim is to ensure accountants can be confident that our software is MTDcompliant. This means they can just focus on supporting their clients and ensuring other aspects of their practice are MTD-ready.
For more information about how we can help your practice prepare for Making Tax Digital, contact us on t 0345 241 5030 or email email@example.com