Real Business takes a brief look at how Making Tax Digital came to be – and why such a “revolutionary” scheme was scrapped from the Finance Bill.
Making Tax Digital
It’s time for chancellor Philip Hammond’s Spring Budget 2017, so we’ve looked at the rumour mill and compiled a list of business announcements likely to crop up.
The government and Federation of Small Businesses (FSB) are being held by the Treasury committee to task over the projections made for the financial impact of Making Tax Digital to small businesses.
Following a consultation garnering 3,000 response, HMRC has announced how the Making Tax Digital policy will look in action and made amendments to suit concerned businesses.