The UK House of Lords Economic Affairs Committee published a report on 22 November 2018 calling for the government to delay the implementation of Making Tax Digital for VAT.
The Making Tax Digital initiative is meant to improve compliance and collections and requires VAT-registered business with a taxable turnover above the VAT registration threshold (currently 85,000) to keep digital VAT business records and send returns using Making Tax Digital (MTD)-compatible software for VAT periods st…