Extract from second reading (Lords) of the Finance Bill - Nov 15

Lord Turnbull (CB):...We also found that the consultation process was inadequate and taxpayer awareness of the changes was low. HMRC was making the elementary error of moving to the next phase before the results of any pilots were available and analysed. Even on HMRC’s own figures, it will take businesses 10 years to recoup the start-up costs from the savings made; software development was lagging behind schedule; and inadequate provision was being made for businesses with irregular or seasonal incomes, such as farmers, performers and those working in the Gig economy. We were told that 53% of independent retailers still had no electronic point of sale. So it has a lot of ground to cover...

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