Blick Rothenberg's Fiona Fernie critiques HMRC's Making Tax Digital (MTD) regime, claiming it imposes unnecessary quarterly reporting on taxpayers without increasing revenue or changing liabilities. She argues that MTD's intended benefits, including easier tax management, could be achieved through free tools like spreadsheets. Additionally, she questions claims of improved accuracy and efficiency with MTD, noting data entry errors can occur regardless of the platform. The ICAEW also expresses concerns that MTD burdens small businesses and necessitates reevaluation.
"Under MTD self-employed people and businesses will have to report their taxes quarterly, not annually... Which begs the question, what is the point of MTD?"
"This is a weak attempt to justify the introduction of MTD... MTD requires businesses to pay for third party software to do their returns as opposed to these free methods."
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