Released 31 August 2021
The Institute of Chartered Accountants in England and Wales (ICAEW) has responded to HMRC’s consultation on proposals to change basis periods.
Responding to HMRC’s consultation outlining proposals to align basis periods with the tax year, ICAEW’s Tax Faculty argues that implementing such changes ahead of the introduction of Making Tax Digital for income tax self assessment (MTD ITSA) would not provide any genuine simplification to the UK’s tax system.
View ICAEW REP 77/21.
See also the ICAEW news release: Drop proposed basis period reform, urges ICAEW.