Accountants in demand for digital tax advice
Research by HMRC shows the majority of small businesses and landlords expect to consult an accountant for support in meeting the requirements of digital reporting under Making Tax Digital. Of the 2,900 small businesses and landlords surveyed, 72% were most likely to ask an accountant/tax agent for advice and support about MTD, compared to 20% who would use the HMRC website, 13% the HMRC helpline, and 5% family and friends. Taxpayers wanted guidance on how to prepare for the new requirements (cited by 40%), while 18% wanted reassurances that they were carrying out requirements correctly and 16% wanted guidance on using software.
Source: Yorkshire Post (12/12/2017)