8th November 2016

BBA’s response to HMRC’s consultation on Making Tax Digital: Transforming the tax system through the better use of information

We expect that all BBA members will be affected by these proposals, and we note that given HMRC estimate that 300-400 organisations will be affected in total; more than half of those are likely to be banks. Measured by volume of accounts, BBA members are likely to provide the overwhelming majority of the savings income data relied upon by HMRC and therefore we have given detailed consideration to the consultation documents.

We support the overarching aim of making tax easier for our customers, and to make it easier for HMRC to support customers in assessing their tax affairs. There is a strong desire to make sure that the MTD initiative is successful for all those involved, and we are grateful for the ongoing engagement with HMRC teams during the consultation period.

Please read the full response via the link below.