Nova Contracting welcomes digital tax accounts consultation delay
News that the consultation on digital tax accounts is to be delayed until after the EU referendum on 23rd June has been welcomed by Nova Contracting.
Nova Contracting director, Marcus Green, said, “This is a welcome pause for thought for the contractor community in a fast-moving legislative landscape, but we hope it does not signal a less comprehensive consultation process.
“Digital tax accounts, if successfully implemented, will help employment providers and contractors to keep track of earnings, pensions, savings and liabilities, but the change must not be rushed through without taking into account the very real concerns of our sector.”
The company states that the Association of Taxation Technicians (ATT) has called on HMRC to delay the introduction of digital tax accounts altogether, by at least a year, arguing that a shortened consultation process will have a detrimental impact on the eventual design of the digital system.
Green added, “We already work with agencies and contractors to provide year round tax planning services and will be able to adapt our model to meet the new regime when it is finally implemented.
“But a collaborative solution, with considered and meaningful input from those most affected, will be much better than an edict from above.”