Episode 29

MTD – How HMRC Is Losing Credibility & Reputation

It's the "UK Matters in Accounting" show, usually going out every Friday to 150 countries and 30,000 accounting practitioners, fintech specialists and influencers in the accountancy, CPA and bookkeeping space. However, in Jan 2023 we are phasing out this show and putting out this content on our sister Success in Accounting Show which hopefully you're already subscribed to.

In today's episode 29, "MTD - How HMRC Is Losing Credibility & Reputation"

Check out the video version of this episode here on Youtube: [LINK]

Rob Brown and Will Farnell discuss the latest HMRC backtrack with Making Tax Digital MTD and how it is losing credibility and reputation with accountants

» how MTD u-turns by the government and HMRC are adversely affecting accountants and their clients

» why MTD should be seen as creating an opportunity more than solving a problem for accountants and clients

» the 'once in a generation' opportunity that MTD represents for accountants to significantly increase their value to clients

» how the 'tax gap' opened up to reduce loss of tax revenues and how MTD was created to close it

» the strange order or personal tax, corporation tax and VAT that was not fully thought through with MTD

» what the future holds for MTD and the accounting profession serving their clients in a more digitised way

Be sure to subscribe to the Success in Accounting podcast going out every Monday - this will soon revert back to its old name Accounting Influencers Podcast.

Main show website. For access to every single show with full shownotes: https://accountinginfluencers.com/podcast

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Mentioned in this episode:

Dead Show / YouTube

About the Podcast

Show artwork for UK Matters in Accounting
UK Matters in Accounting
Critical insights, commentary and analysis of key issues, trends, news and events in the accounting and fintech world, specifically for the United Kingdom

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About your hosts

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Martin Bissett

Martin Bissett is the founder of the Bissett Group of companies that provide practice and personal growth communities, content, and continuing education exclusively to the accounting and bookkeeping professions worldwide.

Previously he established a high six-figure consulting firm while serving as a keynote speaker with over 100 one-off and repeat engagements to his name, as well as becoming the most published author on his topics of specialism with 11 books including 1 bestseller.

Since 1998, he has played a major part in working with over 1800 accounting firms in over 40 countries. These projects have led to those firms acquiring over £500m of recurring fees before inflationary increases, referrals and upselling are factored in. He stopped keeping track of this number over 5 years ago. Martin now advises both accounting practitioners and FinTech companies alike, at board level.
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Rob Brown

Rob Brown is a renowned MC, facilitator and chair of virtual and in-person panels, conferences and events globally for the accounting and fintech profession.

Rob is co-founder of the Accounting Influencers Roundtable (AIR) mastermind group and co-hosts the world’s most popular accounting and fintech podcast: Accounting Influencers.

Throughout the pandemic, he chaired 24 virtual panels with leaders of global accounting networks and alliances to discuss the key issues and challenges. Rob is retained by several associations and vendors to chair their events and provide high-level interview content for their communities.

He is the bestselling author of Build Your Reputation (Wiley) and his TEDx talk ‘The Personal Brand of You’ has been viewed 300K times on YouTube.