Toby Perkins – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Toby Perkins on 2016-02-03.

To ask Mr Chancellor of the Exchequer, what representations he has received over the additional burdens to small businesses of the move to quarterly tax returns.

Mr David Gauke

Making Tax Digital will not involve quarterly tax returns. Instead, this is about making life easier for businesses – saving them time and money. These changes are a central part of a package of reforms that will save businesses £400m in administrative burdens.

Many taxpayers have told HM Revenue and Customs (HMRC) that they want more certainty over their tax bill and access to an in-year picture of their tax position. Instead of an onerous tax return, once a quarter businesses will update HMRC from their digital records and in most cases, little or no further entry of information will be needed. These reforms will make it easier for business to understand how much tax they owe, giving them far more certainty over their tax position, helping them budget, invest and grow.

The Government has received a number of representations from individuals, businesses, professional bodies and the software industry about Making Tax Digital. I also refer the honourable Member to my response of 11 January 2016 (with references 20876 and 21032).

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