Members of the CIOT and Association of Taxation Technicians have called for the £10,000 exemption from mandatory reporting responsibilities under MTD to rise to match the £83,000 VAT threshold.
Additionally, the two bodies also called for the delay of the implementation of digital record keeping.
Co-chair of ATT’s technical steering group Yvette Nunn said:
"All the evidence the ATT has got is that MTD will lead to significant costs and burdens for small businesses in additional accounting systems and support from their accountants. The survey shows that HMRC must help smaller businesses and those who are the most vulnerable in society to adapt to MTD."Will the politicians and HMRC listen?
No!
Tax does have to be taxing.
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