HMRC has said the rollout of Making Tax Digital has, despite parts of the programme being delayed or suspended, thus far generated £223m in extra tax revenues – a figure which HMRC believes will double within the next 12 months.
HMRC is quoted by Civil Service World:
"We haven’t achieved everything we wanted to yet.
There are a number of reasons for this. Some of our assumptions were over-ambitious, and our original plans pushed the limits of what we were able to do, in terms of technology and capacity, in the timeframe we wanted.
Preparations for Brexit placed additional new demands on our project delivery capacity, and we simply didn’t have the resources to do everything we had planned.”
Tax does have to be taxing.
Tax Investigation Insurance
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So how long will it until HMRC recover the total cost of MTD?ReplyDelete
What is/was the total cost to businesses to implement? What savings if any will the system make?