Posts Tagged ‘HM Treasury’

“Not enough time” to implement MTD by 2018, says Tyrie

Thursday, January 12th, 2017

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ANDREW TYRIE has suggested there will not be enough time to implement Making Tax Digital (MTD) by April 2018.

In correspondence between Andrew Tyrie, chairman of the Treasury committee and Jane Ellison, financial secretary to the treasury, the government’s response for MTD consultations were discussed, with Tyrie outlining a lack of time to implement the controversial tax reporting regime by the planned date. Mr Tyrie said of the correspondence: “It is welcome that the government has decided not to rush its response to HMRC’s consultation. But this may mean that there is insufficient time for adequate consultation to take place on the draft clauses, once published.”

Page 41 of the Autumn Statement document states: “In January 2017, the government will publish its response to the Making Tax Digital consultations and provisions to implement the previously announced changes.”

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National Living Wage of £7.20 per hour comes into force for workers aged 25 and above.

Monday, May 16th, 2016

National Living Wage of £7.20 per hour comes into force for workers aged 25 and above

First announced by the Chancellor in his Summer Budget last year, the new National Living Wage delivers a key part of the government’s plan to move towards a higher wage economy.

In some parts of the country, a fifth of the entire workforce will benefit directly from today’s increase. It will mean a £900 cash increase for a full-time worker on the current National Minimum Wage and by 2020, 2.9 million workers are expected to benefit directly. The Office for Budget Responsibility (OBR) estimating that in total, up to 6 million people could see a pay rise as a result of a ripple effect causing pay to rise further up the earnings distribution.

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