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NEWS – UK Government Stalls on Making Tax Digital – a Big Surprise?

Episode 27. In today’s news episode, the Accounting Influencers Podcast reviews the big UK government u-turn on making tax digital and whether tax authorities have too much power in accountancy.

Key shownotes include:

➯ The comical government u-turn on making tax digital or MTD

➯ How even HMRC officials didn’t know the 12 month deferral would be happening

➯ The wasted time accountants and firms have spent on becoming MTD ready

➯ What time wasted on MTD could better have been spent on for accounting firms

➯ Implications of MTD for countries out side the UK given this is a worldwide initiative

➯ The impact for accountancy practices of having to chase legislation instead of growing their firms

➯ The critical decision accounting practitioners need to make as a result of government intervention

➯ How MTD affects the wider accounting and fintech ecosystem with vendors and clients

➯ How MTD has driven accountancy firms down a compliance vz advisory route for many years

➯ Proof of how MTD occupies accountants as judged by the popularity of tax legislation related seminars

➯ How to share your views with us on this topic by going to sayhi.chat/aip

NOTE TO LISTENERS:

Martin and Rob love to hear from the show’s 5000+ listeners in 138 countries around the world. If you have any questions, suggestions, comments or success stories, just type sayhi.chat/aip into your browser and leave us a quick and easy voice message. We may just feature you on the show!