Making Tax Digital

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Klenchblaize

Klenchblaize

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Mods to move as they see fit please but hopefully not to the Political Discussion section:

Should be of interest to those making a good living from deerstalking and particularly if you've a phobia of modern technology. The key concern as I see it is to avoid giving your personal data to other than an HMRC approved book keeping/accounting software provider.

K
 
kenbro said:
Is there a possible link to info. on this K please?
KB.
Click to expand...
Waiting for it to be made available for 30-days on the Radio 4 (Sounds) website. Will post ASAP but here is the Money Box link:
www.bbc.co.uk

BBC Sounds - Money Box Live - Available Episodes

Listen to the latest episodes of Money Box Live on BBC Sounds.
www.bbc.co.uk www.bbc.co.uk
www.bbc.co.uk

BBC Sounds - Money Box - Available Episodes

Listen to the latest episodes of Money Box on BBC Sounds.
www.bbc.co.uk www.bbc.co.uk
Well worth a listen whatever your thoughts about the BBC.

K
 
Last edited:
MTD is a right pain that increases the work for small businesses. I want to submit the bare minimum quarterly and revise it at the end of the tax year, but apparently I can't do that
 
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It gives me no pleasure in pointing it out but I fear this is a gift from HMRC to sophisticated scammers. The 'architects' of this system must be aware of this potential.

K
 
Jim Hutton said:
Whilst I don’t enjoy the onward march of the digital age,
MTD is not much different to filing a quarterly Vat return.
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Big difference is that you have to do a full tax return 4 times a year with a very small timeframe instead of once per year with a large timeframe. It’s an extreme burden for small businesses without dedicated admin staff.
 
I always offer "cash in hand", but fewer and fewer tradespeople will touch it now, and sadly, a lot of those who are still happy with it turn out to be scumbags.
Only a matter of time before cash becomes "illegal tender"....

D.
 
Demetrius said:
I always offer "cash in hand", but fewer and fewer tradespeople will touch it now, and sadly, a lot of those who are still happy with it turn out to be scumbags.
Only a matter of time before cash becomes "illegal tender"....

D.
Click to expand...
I'm sure you're right. Guess I've watched too many episodes of "Life On Mars"!

K
 
Klenchblaize said:
an HMRC approved book keeping/accounting software provider.

K
Click to expand...
Do they actually approve any software? As i understand it, all they do is "recognise" it, and the providers then market that as some form of "approval" or stamp of quality or value which is not really the case. I smell a mis-selling type scandal down the line.
 
Apthorpe said:
Do they actually approve any software? As i understand it, all they do is "recognise" it, and the providers then market that as some form of "approval" or stamp of quality or value which is not really the case. I smell a mis-selling type scandal down the line.
Click to expand...
You've posted exactly the point I was tempted to suggest from the get-go!

I'm convinced there are going to be many higher earning taxpayers that become victims of ID scammers. Basically those on the wrong side of 60 and/or of limited/poor IT skills.

K
 
It's not only increased the burden on those falling into the bracket this year, but the threshold has also been lowered in subsequent years as a catch-all measure.
My accountant has said it effectively quadruples his workload. He is retired but still does a lot for his long-time customers. 40+ years for me. He is not a happy bunny.
 
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