Lords Economic Affairs Committee: Inquiry into the draft Finance Bill 2017

The LITRG welcomes the opportunity to provide written evidence to this Inquiry into the Finance Bill draft clauses on digital reporting and record-keeping for businesses chargeable to income tax. While we believe that the proposed exemption threshold of £10,000 turnover is far too low and the timetable far too short to enable the smallest businesses to prepare for implementation, we do support HMRC’s proposal to exempt those for whom it is not reasonably practicable to use digital for any reason, including age, disability or location.