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MTD

BertieBertie West Midlands Registered Posts: 376
Off the cards 'temporarily' for now then.

I'm expecting the re-surface of the NI increase after the GE, in the next budget as the Tories will have a brand new manifesto.

Assuming it will be a Tory Government - finding it hard to believe any other party has a chance.

It's predicted that a 2.5% increase of VAT is on the cards...nice.

I'd like to know the plans surrounding VAT when our transition out of the EU is complete.

Comments

  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
    Part of me thinks the conservatives will be back in but another part of me thinks that someone else like the lib dems could come along out of the blue. Maybe rather like the SNP suddenly did in Scotland. If they can get the manifesto right they really could spring from nowhere. Labour are out of it in my opinion.

    Historically I'm generally leaning towards conservatives but with the most recent budget and some changes they have introduced they are not helping me, my business or my clients. Although they seem to have a good chance in the polls I really think that anyone who is a director or who is self-employed will struggle to support them. They possibly made a very big mistake attacking them in the recent budget and then calling a GE.
    Regards,

    Burg
  • BertieBertie West Midlands Registered Posts: 376
    It's funny you mention the Lib Dems -

    For each election in the past, whether it be for a local or national election, I've always voted Labour. I can not do that anymore.

    No direction, no common sense - I'll be surprised if Labour are the official opposition party come June.

    My Grandad would go crazy if I voted Tory, so for me it's likely to be a Lib Dem vote . But no, on a serious note, I won't be voting Labour.

    Politics is always massively subjective and can create the craziest of arguments - but I agree with you when you mention the Budget. The cynic in me anticipates future Budget shockers if the Tories gain power again with a fresh manifesto - triple lock will go I fear, in fact I'd say it will be quite thin to allow for greater movement.

    On face value Mrs. May seems quite reasonable, and I can see how she appeals to the disgruntled Labour voter. But she is still effectively playing to the pledges Dodgy Dave agreed to in his manifesto before he was elected.

    I fear she is ruthless.


  • paulstaffordpaulstafford Feels At Home Registered Posts: 126
    Some more clarity on MTD would be wonderful. I note Labour have promised not to introduce it for businesses below the VAT threshold; let's hope the Tories follow suit. Also there have been a few articles in the Telegraph criticising MTD which is a positive.

    I think 'ruthless' is a really good word to describe Mrs May.
    Bertie
  • TreadStoneTreadStone Feels At Home AAT Licensed Accountant Posts: 280
    edited April 2017
    It's merely a temporary reprieve surely ?. It's still going to happen in some guise regardless of who the next government is in my opinion.

    It has to. HMRC have invested far too much time and money on the digital interface to scrap it all completely. Whether it's renamed or diluted is anyone's guess but for many who are hoping things will now carry on the "good old fashioned way", they will be disappointed in my opinion.

    Let's hope I'm wrong though....
  • BertieBertie West Midlands Registered Posts: 376
    Yes I understand the term is known as 'washing' I'd never heard of such until recently.

    As you say, there is too much invested in this already from HMRC's point of view - I'd say the department is still working on MTD as we speak.

    There were a fair few things taken out (or put on hold) if I can find the CIOT link I'll post it up.
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
    At least MTD has now got the attention of the media and the politicians - to some extent.
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