HMRC has opened a consultation into its Making Tax Digital programme, its plan to modernise several aspects of small business taxation.
One of the questions they are asking is whether there should be a £10k threshold for the self-employed before we would be obliged to file four quarterly mini-tax returns.
(Do bears defecate in the woods?)
You may remember how infuriated we were when the 4x returns were announced late last year. It would appear that HMRC has indeed listened to our feedback. Now’s the time to make sure that feedback becomes policy.
If you have strong feelings on this, please read the consultation documents and respond here.
There are other details up for your consideration as well. However, a longer, full policy analysis of the documents is coming later when I’m not double-screening the Olympics.