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Conspiracy theories R us

November 5, 2017

Bonus weekend conspiracy theory blog entry: try this out for size.

First datum: there’s a suggestion the OTS are going to put forward plans to “simplify” the tax system and get rid of the VAT threshold “cliff edge” by reducing the VAT threshold to a “hobby business” kind of level of £20k or so.  (Without the evidence of my own eyes I refuse to believe they’d suggest anything so peculiarly stupid, but let me say in advance that it would be a “brave decision, Minister” if they did).

Second datum: HMRC wanted us all to be compelled to keep digital records and show HMRC our workings four times a year.  After some pushbacks they have had to be content with compelling digital record-keeping only for VAT and for businesses above the VAT threshold.

Put these together, and you have a perfect storm of stupidity: a vast increase in administrative burden, AND an extension of MTD to everyone who runs a serious but not yet successful business.

It’s too stupid an idea to be true, right?  I mean, right??

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