A report jointly published by the Chartered Institute of Taxation (CIOT) and Association of Taxation Technicians (ATT) claims that Making Tax Digital (MTD) is “far from achieving its goals”. A survey of business and agents with an interest in MTD found that:
- nearly 90 per cent of respondents said that MTD had not reduced errors
- the costs of MTD compliance have far exceeded government estimates
- 14 per cent of respondents say there has been an increase in productivity in their organisation as a result of MTD
- 55 per cent considered there had been a decrease in productivity in their organisation.
The two organisations are calling for a comprehensive review of the roll out of MTD before HMRC rolls out digital reporting obligations more widely.