{"id":1492,"date":"2016-09-12T13:16:09","date_gmt":"2016-09-12T13:16:09","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1492"},"modified":"2016-09-12T13:16:09","modified_gmt":"2016-09-12T13:16:09","slug":"uk-taxpayers-say-making-tax-digital-exemption-threshold-is-too-low","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/uk-taxpayers-say-making-tax-digital-exemption-threshold-is-too-low\/","title":{"rendered":"UK taxpayers say Making Tax Digital exemption threshold is \u2018too low\u2019"},"content":{"rendered":"<p>The vast majority of UK taxpayers are complaining that a \u00a310,000 annual income threshold, which would see small business and taxpayers exempt from Making Tax Digital (MTD) and its associated reporting requirements, is \u2018too low\u2019.<!--more--><\/p>\n<p>The news comes following a recent HM Revenue &amp; Customs (HMRC) webinar into the implications of MTD, which asked taxpayers to confirm their \u2018top worries\u2019 about the much-criticised tax overhaul.<\/p>\n<p>12 per cent of those quizzed told HMRC that they thought the MTD exemption threshold should be \u2018at least double\u2019 the proposed \u00a310,000.<\/p>\n<p>A much greater 78 per cent added that they thought even a \u00a320,000 threshold was \u2018too low\u2019.<\/p>\n<p>Furthermore, 61 per cent added that they felt familiarising themselves with HMRC\u2019s new systems and MTD policies would be \u2018too time consuming\u2019.<\/p>\n<p>HMRC\u2019s webinar also revealed the sad news that the Revenue would not be issuing any free software or apps for conversion to MTD.<\/p>\n<p>An HMRC spokesperson said: \u201cAll [MTD] products will be provided by commercial software providers, including free to use products.<\/p>\n<p>\u201cWe will not be publishing a list of authorised suppliers, but we will be publishing a list of software applications, and a brief description of what the product does, as well as the business type (or size of agent if applicable) the product is aimed at\u201d.<\/p>\n<p>Further MTD webinars examining the implications of Making Tax Digital will run up until the end of September 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The vast majority of UK taxpayers are complaining that a \u00a310,000 annual income threshold, which would see small business and taxpayers exempt from Making Tax Digital (MTD) and its associated reporting requirements, is \u2018too low\u2019.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1492"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1492"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1492\/revisions"}],"predecessor-version":[{"id":1493,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1492\/revisions\/1493"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}