For UK users: Will gnucash get ready for Making Tax Digital ?

[Mike Evans]

On Mon, 24 Jul 2017 21:39:43 -0700
John Ralls <jralls at ceridwen.us> wrote:

> > On Jul 24, 2017, at 4:01 PM, Mike.Minh at gmx.net wrote:
> > 
> >   In about a year's time the UK taxman (HMRC) will only allow approved
> >   accounting software to transmit the transctions required by law to
> >   HMRC.
> >   The project is known as Making Tax Digital or  MTD
> >   No exact details or requirements to softwaremakers have been published,
> >   but will gnucash commit to MTD?
> >   If not, gnucash cannot be used anymore by any UK users.
> > 
> >   Link: https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital  
> 
> It seems unlikely the we’ll have either the resources (as in developer time) or information from HMRC to implement this. If HMRC actually requires that account software be submitted to them for evaluation and approval  it also seems unlikely that they’d approve any FOSS program. 
> 
> That aside the page you cite says April 2019 and only for businesses above the VAT threshold. It looks like HMRC intend that they’ll collect information on individual taxpayers by other means so that individuals will have no reporting requirements at all. Since GnuCash is aimed primarily at individuals and small businesses it seems that most of our UK users will still be able to use GnuCash.
> 
> Regards,
> John Ralls
> _______________________________________________

Interestingly HMRC seem to be encouraging opens source

https://hmrcdigital.blog.gov.uk/2016/07/14/talking-openly-at-open-source-16/

And according to https://www.ftadviser.com/regulation/2017/01/31/hmrc-reveals-who-won-t-have-to-do-digital-tax-returns/

"HMRC has clarified that all self-employed businesses and landlords with a turnover of less than £10,000 a year will not have to keep their records digitally or make quarterly updates".  Which includes me.

Mike E