PQ magazine is for part qualified accountants.
Read the latest web issue here – if you like what you see sign up today
HMRC urged to postpone quarterly digital reporting
17 May 2016
The Association of Taxation Technicians (ATT) is calling on HMRC to postpone the introduction of quarterly digital reporting by at least a year. ATT believes the announcement of a delay the consultation process because of the EU referendum means the new timetable is overly-ambitious.
In all there are expected to be 5 consultation documents on Making Tax Digital, which will all now be issued in one go with simultaneous deadlines. The five are expected to cover the scope of quarterly reporting, administration, software, penalties and payments.
ATT’s Yvette Nunn said that the Making Tax Digital Project represents the biggest change in the way taxpayers will engage with HMRC since the introduction of PAYE in 1945.
Her worry is that HMRC will stick with the launch of the public testing phase of April 2017, giving just six months for full and frank consultation.
Nunn stressed: “Rushing ahead with this project without adequate time for the consultation and testing phases could put at risk the many potential benefits for taxpayers and HMRC which greater digital working can bring. That would be a tremendous mistake and in a worst case scenario could result in a system that was not fir for purpose.”
Subscribe to RSS