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Trade bodies demand digital tax timeframe extension

The NFRN and ACS have called for the Government’s timeframes on its Making Tax Digital proposal to be extended, in order to help small businesses.

The NFRN and ACS have called for the Government’s timeframes on its Making Tax Digital proposal to be extended.

HMRC wants most businesses to do quarterly income tax updates and national insurance obligations through its accounting software by the second half of next year.

The NFRN said the digital tax roll-out should be delayed by at least five years to give small businesses enough time to adequately prepare.

The ACS said it remains “supportive” in the long term of digital tax, but feels the current timeframe “would put significant pressure on thousands of small stores”.

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