Ministerial statement on second 2017 Finance Bill

Released 13 July 2017

The Government has confirmed its intention to reintroduce provisions dropped from Finance Act 2017 in a Finance Bill after the Parliamentary summer recess.

The Finance Bill introduced in March 2017 provided for a number of changes to tax legislation that were then withdrawn from the Bill after the calling of the General Election. The then-Financial Secretary to the Treasury confirmed at the point they were withdrawn that there was no policy change and that these provisions would be legislated for at the first opportunity in the new Parliament.

The Government has now re-confirmed that intention and that it expects to introduce a Finance Bill as soon as possible after the summer recess containing the withdrawn provisions. Where policies have been announced as applying from the start of the 2017-18 tax year or other point before the introduction of the forthcoming Finance Bill, there is no change of policy and these dates of application will be retained. Those affected by the provisions should continue to assume that they will apply as originally announced.

The Government has published updated draft provisions to cater for technical adjustments to ensure the provisions function as intended, see Finance Bill (No.2) 2017.

The statement also confirmed the announced changes to the Making Tax Digital (MTD) programme, which legislation will be included in the Finance Bill.

View the statement Finance Bill: Written statement.

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