Treasury Sub Committee
Chair on HMRC response to Making Tax Digital consultation
01 February 2017
The Treasury Committee Chair comments on the publication of HMRC's response to its consultation on Making Tax Digital.
Inquiry: UK Tax Policy and the Tax Base
Commenting on the publication, Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, said:
"This is a welcome, albeit small, step in the right direction. The Government is acting on some of the issues identified by the Treasury Committee. The proof of the pudding will be in the eating. For example, not much has yet been divulged about the software.
The fact that Ministers are reflecting carefully on both the threshold and the possible deferral of the implementation date for some small businesses is very welcome. They certainly need to do so, even if that brings an extra month of uncertainty for the smallest businesses. All the evidence suggests that proceeding at the rate originally proposed would have led to detriment to millions of small businesses.
The Committee will now explore both the costs and savings for businesses, and the revised revenue estimates, in more detail."
Tax does have to be taxing.
Professional Cover Against the Threat of Costly TAX and VAT Investigations
Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.
Ken Frost has negotiated a 10% discount on any polices that may suit your needs.
However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.
What is Solar Tax Investigation Insurance?
Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.
To find out more, please use this link Solar Tax Investigation Insurance
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"