Weekly tax brief | 23 October 2018

Parts of Making Tax Digital postponed (again)
George Bull
It’s now emerged that, as had been feared, HMRC left it too late to launch a pilot MTD exercise for complex businesses. As a result, only straightforward VAT-registered businesses will have to operate MTD from 1 April 2019. More complex businesses will benefit from a six-month extension to 1 October 2019. But how will a business know which category it falls into? And what happens if their status changes?

Budget tax predictions
George Bull
We offer you our traditional colour supplement – RSM's tax predictions for a Budget which will be anything but traditional. The Chancellor is on a mission to boost the nation's finances and his own career. Recent hints of a tax raid on offshore gambling companies remind us that there’s still time for the Treasury to identify more novel tax-raising ideas. All will be revealed when the Chancellor stands up at 3:30 on 29 October to present his Budget statement. Until then, we hope you will find our predictions helpful, informative and – who knows – reasonably accurate.

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