Making Tax Digital is an HMRC initiative requiring all businesses and landlords, with a turnover in excess of £10k, to report figures to HMRC on a quarterly basis.
HMRC estimate that they will spend £980 million implementing Making Tax Digital.
The problem is that HMRC WILL NOT use those figures!
So to restate that …
Making Tax Digital is an HMRC initiative costing £980 million and imposing a reporting burden on all businesses and landlords to provide figures which will not be looked at by HMRC.
One supporter of Making Tax Digital says …
“MTD is a bit like Brexit. The decision has been made; we can moan about it if we like or we can embrace the change and make it work.”
Did we have a vote on Making Tax Digital – I must have missed it.
It’s not like Brexit at all!
The decision may have been made by HMRC to spend £980m but it is not yet law.
So if it’s not law and most of the £980m has not been spent then I will continue to moan about it.
Not only that I will try to reverse this ludicrous decision to waste public funds – other areas of public services need those funds more!
The waste of money on Making Tax Digital is an inconvenient truth
Hopefully this vanity project will be shelved before it’s too late.