Making Tax Digital dropped from Finance Bill 2017

<b></b> 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, the money purchase annual allowance for pensions and penalties for enablers of tax avoidance schemes, confirmed by Government at the Finance Bill committee stage debate. From our understanding, the effects of Brexit and the snap election has meant that any contentious tax measures have been dropped, in order for the Government to pass the Finance Bill 2017 before the election on 8 June. MTD was always going to be a complicated and disruptive process and the delay will no doubt be welcome news to many business owners and accountants alike. At Charlton Baker, we were well prepared for the migration to digital tax, so we will now be even better prepared when the time comes!