Calls For Delay In Making Tax Digital
House of Lords warns against April implementation. The Economic Affairs Committee has published a report looking at the Making Tax Digital for VAT scheme and its message is clear: delay its introduction by at least a year. From 1st April 2019, Making Tax Digital for VAT will be compulsory for VAT-registered businesses with a taxable turnover above the VAT registration threshold of £85,000. Businesses will be required to keep digital records for VAT and file VAT returns digitally using compatible software (such as Pegasus Opera 3). The report from the House of Lords Committee, published on 22nd November, is unequivocal […]