Draft Finance Bill 2017 inquiry

The Sub-Committee examined in detail clauses in the draft Finance Bill that make tax digital for small businesses and the self employed. These changes will affect 1.6 million companies, 2.4 million self-employed individuals, and 900,000 residential landlords. The Committee agrees that the digitalisation of tax is to be welcomed. But it concludes that the roll-out of the scheme is being rushed, imposing unnecessary burdens on small businesses, and will yield little benefit to the Government.