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MTD could boost SME revenues

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A new study suggests that Making Tax Digital (MTD) could lead to a boost for revenues and net gains in turnover for small firms. The Productivity Payout: UK Small Businesses and the Digital Economy report, by economic consultancy Volterra Partners and Intuit QuickBooks, suggests that MTD could deliver small businesses a £57bn productivity payout over five years by boosting productivity and freeing up time for activities such as sales, marketing and training. For sole traders, the predicted average net gain in annual revenue is £1,900, while a small business with 10-49 employees is forecast to see an average increase of £18,000.

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