UK200 Tax Panel meets with HMRC on Making Tax Digital

This week our Personal Tax Director, Lorna Sizer along with key members of the UK200 Tax Panel, met with HMRC to discuss the forthcoming Making Tax Digital (MTD) new VAT regulations.

Launching in April 2019, MTD will require all VAT registered businesses to report their VAT returns digitally to HMRC, through a compatible software programme.

The overall object of the meeting was to identify the opportunities for how HMRC, VAT registered businesses and accountants can collaborate together to form a seamless, yet secure process that is accessible to all.

One key discussion point was HMRC’s desire to support accountants to work in a way that evolves around the tax payer, optimising the process to enhance efficiency and accuracy. With a long term goal of shifting the onus from the tax payer to lessen direct contact, all however with the necessary compliance and security measures still in place.

Overall the meeting was hugely beneficial, being able to gain further insight into the objectives and thought processes behind MTD, will in turn help us to manage the process for our clients. For further detail of the outcomes of this meeting please visit the UK200 news blog - UK200 - Tax Panel meet with HMRC

To find out more on MTD and how or if it may affect your business please see our dedicated MTD news page at Knill James - Making Tax Digital.

Should you have any questions or queries on MTD please do get in touch with Lorna on 01273 484912 or lornas@knilljames.co.uk.