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Home > AccountingWEB > No Accounting for Tech ep17: Making Tax Digital is ‘out of control’
Podcast: AccountingWEB
Episode:

No Accounting for Tech ep17: Making Tax Digital is ‘out of control’
Category: Business
Duration: 00:31:16
Publish Date: 2023-06-14 12:46:32
Description: A damning report issued by the National Audit Office (NAO) on the government’s flagship Making Tax Digital (MTD) scheme suggested it is expected to cost around five times its original 2016 budget and excluded upfront costs of £1.5bn from its business cases. Accounting bodies such as the Chartered Institute of Taxation have labelled the project “out of control” and called for HMRC to “pause and take stock”, backing the NAO’s call for a separate business case for MTD for income tax self assessment. On this special podcast to dissect the report, AccountingWEB technology editor Tom Herbert is joined first by CIOT head of tax technical Richard Wild to discuss how the MTD initiative has gone wrong and what HMRC needs to do to fix it. Later in the show, business IT transformation expert Andrew Burman from global tech firm Ryan joins the podcast to outline his views on why MTD has been such a problematic project for HMRC and compare the scheme to other initiatives undertaken by government and in the corporate world. Burman also cautioned that with the pace of technological change the world is currently experiencing, HMRC risks being left behind if it doesn’t deliver MTD to its latest timelines. Background reading for the podcast: Making Tax Digital £1bn over budget, says NAO report MTD ‘out of control’ say tax professionals Podcast written and hosted by Tom Herbert and produced by Will Cole.
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