Most advisers demand more detail on MTD

Many accountants feel they require more information about Making Tax Digital according to a survey by Thomson Reuters.

Three-quarters (73%) of the 500 advisers polled said MTD should be delayed because they needed more information with 65% eager to know which clients would be exempt. Less than half of accountants (49%) have begun to talk to their clients about MTD.

Mark Purdue tax product manager at Thomson Reuters said: ‘Accountants are looking to HMRC to confirm the turnover exemption so that it is clear as to which businesses will be exempt from MTD or deferred until 2019. In turn this will allow accountants to plan for how they can advise their clients under the new MTD rules.’

He added: ‘The government is still considering the turnover figure for exemption and other fundamental issues including the fiscal impacts of MTD. Although it has been...