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Government finally listens and defers MTD implementation

The government has finally given into pressure from professional bodies, businesses and MPs and announced that it is to defer implementation of Making Tax Digital (MTD) for a year for larger businesses. It will also allow small businesses under the VAT threshold to choose when to adopt MTD. “Businesses agree that digitising the tax system is the right direction of travel,” said Treasury financial secretary Mel Stride. “However, many have been worried about the scope and pace of reforms. “We have listened very carefully to their concerns and are making changes so that we can bring the tax system into the digital age in a way that is right for all businesses.” Under the new MTD timetable, from

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