Question to the HM Treasury:

To ask His Majesty's Government, further to the Written Answers by Lord Livermore on 8 July (HL8787 and HL8788), how requiring users to submit quarterly updates of income and expenditure in addition to submitting a tax return will (1) reduce errors, and (2) save time.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

Making Tax Digital (MTD) quarterly updates support taxpayers in getting their tax right by ensuring timely and accurate record keeping, enabling tailored digital prompts and allowing taxpayers to see estimates of their emerging tax liability throughout the tax year.

This will help to reduce errors, and the time taxpayers need to spend managing their tax affairs. Software will automatically draw data for the updates from the digital records. With income and expenditure already categorised, the end-of-year return will also become quicker and easier, as all the information will be readily available in the software to submit.

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Found: Office for Investment Ceri Smith 2025-06-09 Aware Super invitation to roundtable discussion with Lord Livermore