18th July 2017
HMRC has announced significant changes to the roll-out of its Making Tax Digital scheme, which was due to go live from April 2018. Following concerns about the pace and scale of change from parliamentary bodies, businesses, accountants and software companies.
It is essential that businesses and the accounting industry are given adequate time to adapt to new methods of compliance record-keeping, and any new rules should also improve productivity. Increasing the productivity of UK SMEs plays a significant role in securing our economic future, so this extra time to establish new digital processes is welcomed.