FOR IMMEDIATE RELEASE
The Forum of Private Business has welcomed today's announcement from Government on the timetable for the introduction of Digital Tax returns, providing relief for micro businesses and delaying the rollout of the changes being introduced for the larger ones.
Simplifying tax has been at the centre of the Forum’s agenda in its discussions with Government, and today’s announcement demonstrates that HMRC has listened to the views of businesses and acted upon them.
Chief Executive of the Forum, Ian Cass, said, “We have been lobbying government hard on their tax accounting proposals. Whilst we are completely supportive of the efficiencies that digital solutions can bring, the timeline for introduction of Digital Tax, and the broad scale approach, were both giving our members concerns, which we have fed into HMRC in a constructive way.”
“The alignment to VAT thresholds and quarterly reporting will limit the amount of additional work needed by businesses, and is welcomed. Similarly, giving the businesses over the VAT threshold level more time to change their systems, and adjust their cash flow, is a move that will help many.”
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