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
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