Specific age exemption for MTD?

KEY POINTS

• A business might be excluded from MTD because of age.
• Complex details involved in digital record-keeping.
• HMRC should announce a specific age as soon as possible.

In less than six months I will be able to start drawing money out of my self-invested personal pension. Five years after that I will qualify for a 60% discount on a season ticket at my favourite cricket club and three years after that a free bus pass to travel around Manchester as often as I want. All of the above benefits and concessions are clearly defined according to a specific age.

Let’s roll forward to the VAT Regulations SI 2018/261 that will take effect next April and require all businesses trading above the £85 000 VAT threshold to keep digital records and submit VAT returns with digital...