have a word with the wife 299 Posted July 16, 2017 woo hoo not the april news thursdays news big sigh of relief here Share this post Link to post Share on other sites
GreenGiant 287 Posted July 17, 2017 Rumours concerning the demise of the MTD initiative may be a little premature. After all the money and time that has been spent to get this far, it is unlikely that the whole scheme will be completely written off. Vast amounts of the Finance Bill 2017 disappeared as soon as the recent General Election was announced, as there wouldn't have been time for it to be completed. But that doesn't mean it has gone forever. In fact, it's probably a good thing, as it gives more time for the HMRC and their software developers to ensure that they have everything properly ready for when it does eventually happen. So I think it may be considered as a postponement rather than a cancellation. Share this post Link to post Share on other sites
trade vet 702 Posted July 17, 2017 In the event,Mr Corbyn will be all for it. ! Share this post Link to post Share on other sites
have a word with the wife 299 Posted July 17, 2017 the new timetable: only businesses with a turnover above the VAT threshold (currently £85,000) will have to keep digital records and only for VAT purposes they will only need to do so from 2019 businesses will not be asked to keep digital records, or to update HMRCquarterly, for other taxes until at least 2020 Making Tax Digital will be available on a voluntary basis for the smallest businesses, and for other taxes. This means that businesses and landlords with a turnover below the VATthreshold will be able to choose when to move to the new digital system. As VAT already requires quarterly returns, no business will need to provide information to HMRC more regularly during this initial phase than they do now. Share this post Link to post Share on other sites
