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ICAEW has written to HMRC as part of its engagement on the review of how MTD ITSA could be shaped to suit the needs of smaller self-employed and property businesses.
The government announced the review of making tax digital income tax self assessment (MTD ITSA) on 19 December 2022, alongside the deferral of its start date. HMRC expects to make recommendations to the Financial Secretary to the Treasury in June.
The review is informal and no consultation document has been published. HMRC has engaged with a wide range of taxpayers, agents and representative bodies. ICAEW’s Tax Faculty staff met with HMRC and hosted a separate roundtable with the MTD team and 11 ICAEW members in practice in April.
Following these meetings, ICAEW has written to HMRC to summarise the key points. These include:
ICAEW’s Tax Faculty is recognised internationally as a leading authority and source of expertise on taxation. The faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.
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