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Chartered AccountantsTyrie calls for pilot scheme to settle digital taxes dispute
Treasury Committee chair Andrew Tyrie has recommended that a pilot is needed on the government"s Making Tax Digital project, as concerns mount over the "administrative burden" involved. Mr Tyrie said feedback from Jane Ellison, financial secretary to the Treasury, and Mike Cherry, chairman of the FSB, reflected “huge differences… about the administrative burden of making tax digital.” The FSB believes that with the new system, businesses could spend three times as long on their tax obligations as they currently do, which could cost around £3,000 a year in time, salaries and accountants" fees. Mr Tyrie said the disagreement reflected the need for the implementation of the Treasury Committee"s recommendation for "a comprehensive pilot" of the system, "before mandatory roll out of the digital regime".
Source: City AM (28/03/2017)
