Lords want MTD delayed

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Lords want digital tax rules delayed A Lords committee has said the introduction of new rules forcing businesses to keep a digital copy of their VAT records, as well as requiring them to file their returns electronically, should be delayed by a year. The economic affairs committee warned that small businesses were not ready for the changes, which come into force in April. It also criticised HMRC for having “neglected” its responsibility to help them prepare for the new regime. “Small businesses will not be ready for this significant change to their practices if it is introduced on April 1, particularly with Brexit taking place three days earlier,” said committee chair Lord Forsyth.

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