Equity Win Against Making Tax Digital
25 April 2017
Thanks to Equity’s effective lobbying, the contentious Making Tax Digital plan has been dropped.
The proposals for digital reporting and record keeping including the requirement to make quarterly submissions of income, expenditure and net profit have been removed from the Finance Bill 2017.
The union recognises this as a reaction to the intense lobbying opposition from Equity, alongside other organisations.
Making Tax Digital was due to come in from April 2018 for sole traders with earnings over the VAT threshold. From 2019, the plan would also have affected those below the VAT threshold.
The future of Making Tax Digital is uncertain, but the delay in implementation will be seen as a great win for many self-employed workers. Equity will continue to monitor this policy, and report any developments that may arise.
Equity would like to thank the many members who contacted and met their MPs to put forward their case against these ill-considered proposals. Their energies and efforts have been invaluable in helping the union secure this success.
To find out more about Making Tax Digital, see our Tax and Welfare article on the subject.