No more delay on MTD, VAT-contractors warned
The so-called ‘soft landing’ looks like the last respite on digital tax accounts that contractors will get, as the small business minister has reportedly said there will be no more delay.
The pledge of the ‘soft landing’ followed, as did HMRC guidance for people and firms facing the April 1st 2019 go-live date of what will be MTD’s first stage -- VAT record-filing.
And although small businesses’ advisers have since said that many freelancers and other tiny traders are still not clued up enough about MTD, the go-live date is apparently not moving.
In fact, Kelly Tolhurst MP warned taxpayers affected by the compulsory e-record keeping of VAT from this coming April that they should not expect a further hiatus, the Times reported.
The minister for small business also said that those affected should prepare for the online requirement, despite the risk that it could coincide with fallout from a ‘no-deal’ Brexit.
Interestingly though, the former marine-services business owner was said to have then admitted that the self-employed were “some of the hardest people in the economy to reach.”