Spring Budget 2024 representation
Executive summary
This representation ahead of the March 2024 Spring Budget sets out AAT’s position on policy areas and priorities important to our members and the small businesses supported by the accountancy profession. These comprise:
- tax simplification
- Making Tax Digital
- tax reform to support small businesses
- increasing professional standards in the accountancy profession
- HMRC resourcing
- clarification of the timetable for anti-money laundering reform
- Help to Grow.
Related consultation responses
Progress with Making Tax Digital
We believe HMRC must stick to a timeframe for the roll-out, simplify as well as digitise complex processes, and build greater awareness among small businesses.
Making Tax Digital for Corporation Tax
We think practical benefits are likely, but while a reduction in errors is possible in the medium to long term, they may increase in the short term.
Reforming anti-money laundering and counter-terrorism financing supervision
AAT contends that the OPBAS+ model is the most suitable option and would result in a demonstrable improvement in the sector.
Office for Professional Body Anti‑Money Laundering (OPBAS) sourcebook update
We welcome the review of the sourcebook and are in support of the proposed changes. However, we question the clarity and accuracy of the cost analysis.
