‘Making Tax Digital’ proposals draw mixed reaction

UK tax professionals welcomed proposed measures to ease the transition to digital tax reporting but one leading expert told Tax Analysts that the government failed to take account of the Brexit vote’s impact on the UK economy. The publication of six long-awaited consultation papers was delayed for several months because of the EU referendum and subsequent change of government.

HM Revenue & Customs released the consultation papers on the Making Tax Digital (MTD) project on August 15, saying that more than a million small businesses will be able to benefit from MTD without updating HMRC quarterly or keeping digital records.

Read more: My news story for Tax Notes 16 August (paywall) published by Tax Analysts.