Everyone needs time to prepare for MTD

Readers may have seen the various online discussions about the interaction between the new proposals for the abolition of basis periods and the date on which businesses first come into making tax digital (MTD). There is a strong argument that the result of the proposals is that all business will come into MTD from the quarter beginning 6 April 2023 regardless of the period to which they draw up their accounts. There are different views on this and we await further clarification from HMRC – we will be publishing an article on this topic in due course.

Whatever the true position it is extraordinary that we should have got into this muddle. I have always said that I support the principle of MTD and that ultimately we will all look back and wonder how we ever coped under the current system. I stand by that...