UK specific: MTD - Making Tax Digital

[Alain Williams]

Question: Are there plans for GnuCash to work with the UK Tax edict MTD ?

MTD (Making Tax Digital) is the UK Inland Revenue (HMRC) mandating that every
business (& some others) use accounts software in the glib assertion that it
will make life easier for every business.  Part of this is that all will need to
upload transaction information to HMRC computers every quarter + annual reports.

This will start in April 2018, although most people have not yet heard about it
and the specifications/requirements have not been finalised.

I do not use accounting software as my business is simple and small enough that
paper is easier. I am looking from something that will run on my Linux boxes
that will keep the monkeys in HMRC happy. I would be prepared to join in a
project to help make this happen.




Some background info on MTD

Overview
https://www.gov.uk/government/publications/making-tax-digital

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/494821/Making_Tax_Digital_-_myth-buster.PDF

https://www.fsb.org.uk/docs/default-source/fsb-org-uk/fsb-mtd-pwc-report.pdf?sfvrsn=1
FSB has estimated the average cost across all small and medium sized businesses
of introducing mandatory quarterly reporting would be £2,770

http://www.taxresearch.org.uk/Blog/2015/12/14/hmrcs-digital-accounting-will-become-the-biggest-obstacle-to-small-business-growth-in-uk-history/
HMRC’s digital accounting will become the biggest obstacle to small business
growth in UK history

https://www.icas.com/technical-resources/making-tax-digital-in-ten-all-you-need-to-know

-- 
Alain Williams
Linux/GNU Consultant - Mail systems, Web sites, Networking, Programmer, IT Lecturer.
+44 (0) 787 668 0256  http://www.phcomp.co.uk/
Parliament Hill Computers Ltd. Registration Information: http://www.phcomp.co.uk/contact.php
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