Many accountants see MTD ITSA as an opportunity to gain clients

Many accountants (83%) consider that making tax digital (MTD) for income tax is an opportunity to gain clients according to research from Intuit QuickBooks.

One in three plan will actively seek out prospective clients while one in five (20%) expect more clients to contact them. In addition almost half (44%) agree the new rules will open new customer segments driving organic growth.

However 29% of respondents are concerned about a lack of clarity and communication on the process and timeframes of the new process in particular the financial costs (32%) the level of change required (30%) and a lack of support from HMRC (26%).

For some these obstacles are too much to overcome with 11% saying they will sell their business and an additional 7% saying they are set to retire because of the changes.

Nick Williams director of Intuit QuickBooks ...