Naomi Griffiths said:
I'm just starting up in practcie and am trying to think about what the implications of MTDI and MTDB are, so thank you for raising this topic.. As a brand new bookkeeper I don't feel qualified to comment but am keen to know what others think.
Best wishes, naomi.
Thanks Naomi, glad I finally got a response.
My gut feel is either people have fully read up on this and therefore do not feel compelled to comment and share , or, people have literally not thought about this at all and are probably unaware that this will significantly impact next year.
Re not being "qualified"; I would say that no-one is qualified as yet regarding MTD other than those who have read the fairly scant stuff from the HMRC website, plus wild articles and misleading PR from some dodgy accountants, as well as some very good stuff from extremely solid accountants.
This is why I posted this, there is no concensus, so maybe the ICB club could shed light and some guidance.
My thoughts are this could be a boom time for us as there will be a mandatory requirement to properly document digital records that can be distributed instantly on request; thus the era of shoebox year end is made obsolete.
Watch this space.