A recent publication has quoted a survey suggesting that 8 out of 10 plumbers are at risk of penalties when the impending Making Tax Digital rules are enforced.
Half this number is quoted as being unaware of the impending changes. Although the rules do not bite until April 2023 it is a brave tax payer who does not prepare for what will, for many, be a major change. There is no reason to suppose that plumbers exist in a parallel universe to other small businessmen or that the lack of awareness is uniquely allied to a knowledge of u-bends and pipework.
Rather, this suggests a general lack of preparation extending across most, if not all, trades. While we at Whiting & Partners have bombard our clients with information and advice concerning MTD it seems many have not received such details. If you are reading this and wondering what this is about perhaps you should contact myself or one of my colleagues for a chat.
This may sound like a TV game show but there will be more penalties than prizes and not a lot of laughs.