The results of the survey conducted during December and January on businesses’ and agents’ experiences of making tax digital (MTD) for VAT has found the project ‘is far from achieving its goals’.
Key findings from the survey include:
The survey received a total of 1,091 responses.
Tina Riches, chair of the joint CIOT and ATT digitalisation and agent services committee, commented: ‘These initial results underline our concerns that, far from bringing benefits to businesses and the exchequer, MTD for VAT has so far created additional, costly obligations for most businesses beyond what was predicted by HMRC. The results suggest there is a very long way to go to achieve the benefits claimed by the government about MTD for VAT.’
The CIOT and ATT have shared the full results with HMRC and intend to submit a Budget representation drawing on the results of the survey.
The results of the survey conducted during December and January on businesses’ and agents’ experiences of making tax digital (MTD) for VAT has found the project ‘is far from achieving its goals’.
Key findings from the survey include:
The survey received a total of 1,091 responses.
Tina Riches, chair of the joint CIOT and ATT digitalisation and agent services committee, commented: ‘These initial results underline our concerns that, far from bringing benefits to businesses and the exchequer, MTD for VAT has so far created additional, costly obligations for most businesses beyond what was predicted by HMRC. The results suggest there is a very long way to go to achieve the benefits claimed by the government about MTD for VAT.’
The CIOT and ATT have shared the full results with HMRC and intend to submit a Budget representation drawing on the results of the survey.