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SME's - NO DELAY TO MTD PLANS

George Rosevear

Interesting article from The Times regarding the warnings from the Federation of Small Businesses

NO DELAY TO MTD PLANS

Business minister Kelly Tolhurst has told small businesses that there will be no further delay to “making tax digital” despite warnings from the Federation of Small Businesses and others that SMEs are not ready for moving tax compliance online and are having to deal with uncertainties around Brexit at the same time. Last month, the ICAEW said 40% of affected businesses were not aware of the change.

Kelly Tolhurst and Theresa May

Kelly Tolhurst and Theresa May

Ms Tolhurst said: “We're making sure the communication is there so small businesses know exactly what they've got to do. Digitalisation is the way to go. It's all about making it easier for business, but it's rightly down to us to sell it to businesses and make sure they understand what the benefits are." From April, all VAT-registered companies will have to have digital record-keeping for VAT and file VAT returns directly from third-party software.

Source: The Times (15/10/2018) 



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