Spring Budget 2017 Analysis - Making Tax Digital
The measure
The government has delayed the mandatory introduction of Making Tax Digital for unincorporated businesses and landlords with turnover below the VAT threshold, until April 2019.
The government will also consult on the design aspects of the new system, including any penalties and interest matters, with a view to harmonising the approach across all taxes.
Who will be affected?
Unincorporated businesses and landlords with turnover below the VAT threshold.
When?
The new Making Tax Digital rules will be in force from April 2019.
Our view
This delay will help those affected as it offers more time to prepare for the requirements of digital record keeping.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
