Making Tax Digital dropped from Finance Bill

Making Tax Digital has been removed from the Finance Bill 2017, as well as a majority of other tax measures such as corporate loss relief and the money purchase annual allowance for pensions.

Pressure to amend Making Tax Digital plans

There are signs that the two committees scrutinising HMRC proposals for Making Tax Digital are planning to work together to push for more changes and a slower implementation of the current plans.

Budget 2017: Making Tax Digital delayed until April 2019

The Chancellor Philip Hammond has delayed the introduction of Making Tax Digital for those under the latest £85,000 VAT threshold approach.

Director dividends

Those who run limited companies – will be affected by a reduction in the tax-free dividend allowance for shareholders from £5,000 to £2,000 from April 2018. Again, this is a measure by the Chancellor to make the tax system more ‘fair’ for the employed and less weighted towards the self-employed..

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