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SMALL firms have begged Chancellor Philip Hammond for a reprieve over digitising their tax records.
The new Making Tax Digital rules from next month will force all firms with revenues over £85,000 to keep online records and submit tax returns four times a year.
Alamy Live News
But half of business owners told the Federation of Small Businesses they will not be able to comply from April 1.
A fifth have received software quotes but not yet bought any.
The move will cost small firms about £564.
Just three per cent said they took part in the pilot.
HMRC found one in five firms that will be affected by MTD had never heard of it.
Philip Hammond says No Deal Brexit could cost harm economy by billions
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