Responding to today’s Spring Statement, George Bull, senior tax partner at RSM said:
‘Buried in today’s ministerial statement is a reference to the government deciding that it will not be mandating Making Tax Digital for any new taxes or businesses in 2020.
‘Previously, we were expecting MTD to be extended to income taxes and corporation taxes from 2020, but this now appears to have been deferred to an as yet unknown later date. It’s likely that HMRC will want to fully assess how MTD for VAT, which comes into force in 2019-20, is working in practice before committing to an extension.
‘This is a far cry from the ‘end of the tax return’ we were promised back in Budget 2015.’