Taxation: Self-assessment

HM Treasury written question – answered on 2nd March 2017.

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Photo of Barry Sheerman Barry Sheerman Labour/Co-operative, Huddersfield

To ask Mr Chancellor of the Exchequer, if he will take steps to protect small businesses and low-income professionals against any negative fiscal impacts of the proposed revised threshold for Making Tax Digital.

Photo of Jane Ellison Jane Ellison The Financial Secretary to the Treasury

As announced on 31 January 2017, a decision on the level of the initial threshold for the income exemption will be made before legislation is introduced. The Government has committed to ensuring that free software is available for businesses with straightforward affairs. It will also continue to consider options on financial assistance and support for small business in the context of the overall fiscal framework.

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