Only one third of tax professionals find VAT returns to be more accurate under MTD
In a recent research led by Reuters, one quarter of tax professionals said usage of MTD to report tax VAT returns resulted in positive experience, in which process appeared to be more efficient and easier to complete.
Supporters of the digital software believe it improves visibility of indirect tax across transactions and provides accountants the ability to further collaborate with clients. HMRC is already planning on increasing the usage of the time-saving technology to calculate a wider range of taxes.
Read more at Accountancy Age.