HMRC has failed to do any assessment of the tax loss that will result from people quitting work as a result of the new MTD rules which require 5 tax returns a year.
If just 1% of self-employed taxpayers with turnovers above £20k cease working there will be a direct tax loss of £75m & an indirect loss - from VAT, indirect taxes, & knock-on effects on the wider economy - of another £150m. And that estimate excludes anyone from the top 10% of self-employed taxpayers.
There is an opt out if you claim religious beliefs prevent you from filing online.
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HMRC has 119 jobs on LinkedIn.
ReplyDeleteMajority of them are pointless non jobs. Product Manager, Deputy Director of some Wafflebollix department who can bounce emails and eat Rich Tea biscuits
Jobs that are there to make sure this MTD nonsense will go though.
I'll suggest it's renamed STD because it's unpleasant, embarrassing and difficult to get rid of.
Allegedly
HMRC are doing so much to deter people from being self employed and running businesses.
ReplyDeleteIt's almost like this brainless bunch has no clue as to why generates the wealth that funds the public sector including their wages. Most would fail to get work in the real world and so should be grateful to the business community.