More than half of the Finance Bill has been put on hold until after the general election which is taking place on 8th June 2017.
Among other clauses, the Government have decided to delay the legislation for digitising the tax system. The new system will require small businesses, self employed workers and Landlords to send quarterly digital tax records to HM Revenue and Customs (using a smartphone or computer).
The Government will legislate for the postponed measures at the earliest opportunity at the start of the next parliament.
Article abridged from an article in the Financial Times.