Making Tax Digital

[Jessica@WhiteFieldTax]

4 small rushes?

5 small rushes I suspect

[Jessica@WhiteFieldTax]

I think it should largely eliminate the 31 Jan rush for the simpler end of the market (and hence most "small" accountants). There shouldn't be much in the way of fancy year end adjustments, so the annual thing should largely be the sum of the 4 quarterly submissions. If the data's already been collected to deal with those, the annual one should be a breeze (famous last words).

Inevitably the more complex ones will be...more complex, but that shouldn't impact many of us on this forum, accountants or business owners.

Yes, famous last words Chris. I'm jaded at present after my busiest January for about a decade, following a move into new business sectors.

By and large most PSC users, especially with a decent accountant, are whipped into shape, be it Freeagent, excel or whatever. In our office, with the PSC portfolio, one of the largest bottle necks, if not the largest, is getting a simple year end clarification from people about things like debtors/wip, home working costs - just the things that have to go on the fifth submission.

Outside the organised world of PSCs there is, however, still a huge rump of disorganised and unprepared sole traders below the vat threshold, where January becomes a frantic panic. Depending on the MTD threshold, at best it will be a uphill battle to install discipline, at worst the January rush will still be there. Premium pricing calls...