Chartered Tax Advisers & Accountants

Making Tax Digital

The idea of Making Tax Digital was first mooted in the 2015 Autumn Statement with the announcement that the Government wanted to replace the annual tax return with some form of quarterly accounting for the self-employed, landlords and partnerships.  Limited company obligations will also follow.  As more and more people become aware of this "quarterly reporting", concern is growing as to how this will impact on the self-employed.  

The Government's consultation on Making Tax Digital closed on 7 November 2016 and M&S submitted their responses to these consultations on 4 November 2016.  We expect final decisions regarding the consultation will be announced in the forthcoming 2016 Autumn Statement on 23 November.  As M&S are deeply concerned about these changes and their potential impact, we will be watching the Autumn Statement more closely than usual, and will provide our usual summary shortly afterwards.

We hope the information in this page will prove useful to you but if you have concerns as to what these changes might mean for you or your business please contact Stewart McKinnon, Tax Director or Wendy Cheung, Tax Manager or by emailing

Making Tax Digital – A ‘surprise’ announcement

Published On: 14/07/2017

It took the Government a while but they eventually listened to the professional bodies and tax experts that the public is not ready for Making Tax Digital (MTD). 

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My Making Tax Digital Blog Part II, free trial, FreeAgent plus some more cynicism

Published On: 25/04/2017

Hopefully you’ll recall in my earlier blog, I’m taking part in HMRC’s pilot to evaluate the MTD software that businesses like mine – and if you’re self-employed then almost certainly yours too – are going to a have to use from April next year.

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My Making Tax Digital Blog, Part III, in which HMG decides to hit the pause button

Published On: 20/04/2017

I am sure that you know by now that the government has decided that their plans for Making Tax Digital were perhaps a tad rushed and consequently it’s better that we have another year to prepare for this seismic shift, which my friends at M&S tell me is the biggest change in the tax system since self-assessment.

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Budget 2017 - Looking To The Future

Published On: 10/03/2017

Even more so than most recent Budgets, in the last ever Spring Budget on Wednesday, there was actually very little of any relevance that will take immediate effect, even the headline announcements about increased Class 4 National Insurance Contributions (NIC) for the self-employed and the reduction in the dividend allowance.  For the most part, gone are the days when changes took effect from midnight on the day of the Budget.  That is certainly a good thing in terms of avoiding last minute panics to get something through or paid before the change was implemented and it does allow businesses and taxpayers time to plan a bit more.

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Published On: 08/03/2017

For once we are both pleased and surprised to say HMRC have been.  After mounting criticism and almost unanimous requests from small businesses and their representatives, HMRC have today announced a one year delay in the introduction of Making Tax Digital for Businesses (MTDfB) with a turnover below the soon to be introduced £85,000 VAT threshold.  This turnover threshold will also apply to landlords with an annual turnover of less than £85,000 per annum.

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My Making Tax Digital Blog – starting with some cynicism!

Published On: 02/03/2017

Probably against my better judgement, I’ve agreed to take part in HMRC’s pilot to help them evaluate the MTD software that will become essential for most small businesses to use to complete their quarterly tax “returns” (sorry, submissions, we’re not doing tax returns now, no siree), from April 2018.

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Published On: 01/02/2017

As might have been expected, HMRC chose the busiest day in a tax adviser’s year (and football’s transfer day deadline) to publish what is to happen with Making Tax Digital, following a record breaking number of responses (over 3,000, more than 20 times the average) to the consultative documents in November last year.

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The Autumn Statement - A New Chancellor but Nothing Different

Published On: 24/11/2016

The 2016 Autumn Statement marked the first statement delivered by Chancellor Philip Hammond but, despite this, served mainly to confirm old news that changes already announced would take place, rather than introduce anything significant.

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Autumn Statement 2016

Published On: 23/11/2016

In terms of tax announcements we can only describe it as

 Boring Autumn Statement 2016





Nothing at all on Making Tax Digital despite previous commitments.  A more detailed analysis of the few changes announced will follow shortly.

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Tax and Accountants - the Diary of a small businessman...

Published On: 03/11/2016

Post-Halloween scare stories – aka, is this 4x4 tax returns really going to cost me nearly three grand each year?

(continuing the diary of a small businessman and his attempts to understand our tax system)…

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