Making Tax Digital is delayed until 2020
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- Published: Wednesday, 09 August 2017 07:44
- Written by News Editor
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The Government’s controversial Making Tax Digital (MTD) plan will not affect dental practices until at least 2020. The good news comes after the government seemed to buckle under pressure and removed MTD from the 2017 Finance Bill as many groups, including NASDAL (National Association of Specialist Dental Accountants and Lawyers) had made representations about the timeframes involved.
Alan Suggett, media officer of NASDAL and a partner in UNW LLP, said, “The aims of the scheme appeared to be laudable in terms of simplifying and making the tax system more efficient. However, the dental sector would have faced specific challenges. It is good news that there will be no additional red tape for dental practices; at least for now.”
The current pilots for non-VAT related MTD and quarterly reporting had been criticised as being too slow so the decision to delay the programme for at three years will be a major relief for many small businesses. The Treasury insist that they are committed to the principles of MTD. A spokesperson said, “We are very committed to Making Tax Digital - it is not about the policy, it is about the pace of change.”
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