This petition was submitted during the 2015–2017 Conservative government
Petition Stop Making Tax Digital because it will be hugley burdensome on small businesses
HMRC is pushing ahead with Making Tax Digital: a scheme that will force all business to maintain digital accounts. Currently most small businesses use paper accounting records or spreadsheets. Small businesses lack the skills, time and funding to maintain digital accounts.
Contrary to what HMRC have said, small businesses will not benefit from MTD. Making Tax Digital is a misnomer because businesses have been filing digital tax returns for 20 years. HMRC would gain from MTD because HMRC would receive more detailed trading information for businesses. Whilst HMRC needs to ensure it collects the correct tax, HMRC completely under estimates the cost of compliance on small businesses.
This petition is closed This petition ran for 6 months