Committee takes evidence from accountancy profession on Making Tax Digital
08 February 2017
On Wednesday 8 February 2017 representatives from the accountancy profession give evidence to the Economic Affairs Finance Bill Sub-Committee on the Government's proposals to Make Tax Digital (MTD) that will see small businesses and residential landlords keeping digital records and providing quarterly updates.
Wednesday 8 February in Committee Room 2, Palace of Westminster
- Ms Tina Riches, National Tax Partner, Smith and Williamson
- Mr Michael Steed, Co-chair of ATT's Technical Steering Group, Kaplan Leadership and Professional Development
- Ms Rebecca Bennyworth, Council member, Institute Of Chartered Accountants In England and Wales (ICAEW)
- Mr David Lyford-Smith, Technical Manager, Institute Of Chartered Accountants In England and Wales (ICAEW)
The Sub-Committee asks questions such as:
- Are your business clients ready for Making Tax Digital?
- Do you think the Government’s estimate of the cost to businesses is realistic?
- Will digital recording lead to a reduction in errors in tax returns and substantially reduce the tax gap?
- Has HMRC gone far enough in simplifying the tax system to make it easier for taxpayers to cope with the requirements of Making Tax Digital?
- What are the main lessons to be drawn for the UK from the experiences of other countries which have moved to a digital tax system in designing and implementing the Government's Making Tax Digital (MTD) proposals?
- HMRC is expecting the software industry to develop and provide free software and apps. How does this compare with the approach of other countries?
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