Most Companies See No Benefit in UK Making Tax Digital Regime

Most small businesses and tax agents don’t see benefits from incoming UK tax authority rules requiring businesses to submit quarterly tax returns, a survey published Friday said.

Nearly seven out of 10 (68.5%) respondents to a July survey by His Majesty’s Revenue & Customs advisory board saw no benefits from the Making Tax Digital for Income Tax Self Assessment (MTD ITSA) regime due to begin next year.

The MTD ITSA regime will be mandatory for landlords and sole traders with an annual turnover of more than £50,000 ($65,500) from April 2026. Taxpayers will be required to ...