24 Nov 2023
As more of us digest the Chancellor’s Autumn Statement, experts from both the public and private sectors have poured over its contents. 20:20 Innovation discusses the key takeaways from the Autumn Statement in an article we published for both members and non-members.
We've also had a bundle of long-awaited news about Making Tax Digital (MTD). This stems from the Autumn Statement on Wednesday and the Public Accounts Committee (PAC) report on 24th November 2023. The latter refers to it being 'unacceptable' that after 7 years, with £640m of taxpayer money spent, so many questions remain about how the MTD for income tax regime will work.
This article, written by Sharon Cooke, looks at the key takeaways from the PAC report. Read on for more information about the report and what it means for MTD.
If you would like more information about joining 20:20 Innovation why not book a free 30-minute demo with our team today.
Having run two webinars on the Autumn Statement already, I'd say the mood towards MTD for income tax has not improved. HMRC have just not gone far enough with the measures announced this week. This includes convincing the agent community that MTD will lessen the tax gap to the extent believed by HMRC.
Whether this list is any more realistic than my Christmas list to Santa I don't know. It feels like we've been here before, many times since the original 2015 announcement.
And then we've got a likely general election in 2024, which could change the roadmap again.
If your accountancy business needs more support and training on MTD then why not get in touch with 20:20 Innovation?
24 Nov 2023
The outcome of the Making Tax Digital Small Business Review was published as part of the Autumn Statement. Rea...
23 Nov 2023
Following the Chancellor’s Autumn Statement on 22nd November 2023, 20:20 Innovation round up the key takeaways...
12 Sept 2023
Jeremy Hunt has announced that the 2023 Autumn Statement will take place on Wednesday 22 November 2023. 20:20 ...