Politics

Tax / Second Finance Act pushed into autumn but measures effective April 2017

All measures dropped from the Finance Act including loss relief and non dom changes in the run-up to the election will be reinstated in a Second Finance Bill which will be introduced as soon as possible after the summer recess when MPs return to parliament 

Tax / Making Tax Digital delayed until 'at least' 2020 except for VAT

The government has caved into pressure over Making Tax Digital and has delayed rollout by 'at least' two years until 2020 with the deferral confirmed by the Treasury, although quarterly VAT reporting using the system will be mandatory from 2019, reports Sara White

Tax / Nicky Morgan to chair Treasury Committee

Conservative former cabinet minister Nicky Morgan has been elected the first woman to be chair of the Treasury Committee, replacing the retiring Andrew Tyrie

Tax / Croydon regional hub for HMRC set to open this summer

HMRC has confirmed that it will move staff into its first regional hub in Croydon in south London this summer and plans to open the remaining 12 regional centres by 2022, although some staff will be based in six transitional centres until the final relocations are complete by 2026, reports Sara White

Tax / Tax rises and spending cuts needed to meet deficit goal, says IFS

The UK economy is growing too weakly to further bring down the deficit and reach a surplus by the next Parliament without tax rises and further spending cuts, according to the Institute for Fiscal Studies (IFS)

Tax / Corporation tax online service will reflect loss relief rules by end autumn 2017

HMRC has confirmed that new rules on carried forward losses will not be reflected in the Corporation Tax online service and CT600 return form until the end of autumn 2017 as the measures were dropped from the truncated Finance Act 2017 enacted before the June general election

Tax / Rees-Mogg and Morgan frontrunners for Treasury Committee post

Ahead of the committee chair elections tomorrow, Conservative MPs Jacob Rees-Mogg and Nicky Morgan have been named as the frontrunners for the coveted Treasury Committee role, with Meg Hillier remaining head of the Public Accounts Committee (PAC)

Tax / Jane Ellison back at Treasury after losing seat as MP

Jane Ellison, former Conservative MP for Battersea and ex Treasury financial secretary, who lost her seat in last month’s general election, has been hired as a special adviser in the Treasury

Tax / Government ‘must hold nerve’ on fiscal policy, says Hammond

Chancellor Philip Hammond has pledged to hold firm on the government’s existing tax, economic and fiscal policies, despite pressure to spend more on public services and public sector workers

Tax / Northern Ireland receives more funding in Conservative/ DUP deal

The Conservative party and the Democratic Unionist Party (DUP) have struck a confidence and supply deal which sees the Northern Irish party backing Theresa May’s minority government

Tax / SFO future appears safe after merger omitted from Queen’s Speech

The Serious Fraud Office’s (SFO) immediate future appears to be secure after references to a potential merger with the National Crime Agency (NCA) were left out of the Queen’s Speech

Tax / Select Committee on Finance Bill unlikely to convene before early July

Government plans to push through a summer Finance Bill before the parliamentary summer recess will come up against problems as there are no select committees in place following the general election so there is likely to be little time for proper scrutiny 

Tax / Queen’s Speech 2017: Finance Bill 2017 to go before ministers 'this summer'

The Finance Bill 2017 truncated by the snap election appears set to go before ministers following the resumption of parliament after the Queen’s Speech

Tax / Queen's Speech 2017: government set to consult on social care plan

The government will go ahead with plans to overhaul the funding of social care with a consultation scheduled for the two-year parliamentary session but has not set out details about how this would work, the level of any cap or how much people would have to pay for care, reports Sara White

Tax / France and Germany mull plans for eurozone finance minister

The prospect of an finance minister and centralised fiscal budget for Eurozone countries has increased after German chancellor Angela Merkel said the proposal should be considered
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