When the General Election was called in April 80% of the longest Finance Bill there had ever been was dropped - Jane Ellison MP said in the only debate that took place on 25 April that the government would bring back the remainder after the General Election. In the chaos following the result it seems that the other 80% has gone missing as there is no sign of it being set down in Parliament before they go on the summer hols from July 20th. They come back on September 5th but then go off to Conference on the 16th of September and don't finish that until after the 5th October. The worry is that quite a few measures were supposed to be implemented from 6 April 2017 the new rules for domicile for example. If a taxpayer has been resident for 16 years out of the previous 20 is he or she still, able to use the remittance basis or will the legislation come back from 6 April 2017 and deem them to be domiciled in the UK? What happens if that person dies before the Bill comes back? How much can a person who has retired already put into pension products annually - £4,000 or £10,000? What about making tax digital? I'm sure the politicians think getting themselves sorted is more important than this sort of detail but surely some sort of guidance is urgently needed here? Has anyone got any idea from internal rumous in either Treasury or HMRC what is happening and what will happen? - I hope that is not a rhetorical question by the way...
10th Jul 2017
The missing 80% of the 2017 Finance Bill
There seems to be no sign of the 80% of the Bill that got dropped - what now?
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