Digital tax plan threatens SMEs
The government has been warned that plans to make business tax returns digital will mean "chaos" for many small companies in Britain. HMRC says the ‘Making Tax Digital’ initiative will save a fortune in back-office costs, once businesses start submitting quarterly returns using "designated software packages". However, Andrew Tyrie, chairman of the Treasury select committee, wrote to the Treasury in April to express concerns about the implications of the move for small businesses.
The Times (14/06/2016)