RLA vice-chair and director for Wales Douglas Haig has appeared before a House of Lords committee answering questions on the impact of the Government’s Making Tax Digital plans.
Douglas appeared before the House of Lords Economic Affairs Sub-Committee, which was looking at the Draft Finance Bill for 2017, earlier today.
He told the committee that digital tax plans would be easier to adopt for those with larger portfolios but that there were fewer benefits for smaller landlords or those with single properties.
He also spoke out against plans to introduce the new system at the same time as controversial changes to Mortgage Interest Relief, which will see landlords taxed on turnover rather than profit.
He said that for some the introduction of Making Tax Digital will be a positive development, but for others it will be challenging, not least older landlords and those not so digitally connected.
To read the RLA submission to the Making Tax Digital consultation click here.
To read details of the Making Tax Digital proposals and findings of the Government consultation click here.