Before the summer recess, the government confirmed that a new Finance Bill would be introduced as soon as possible after the summer recess. The House of Commons returned to Westminster on 5 September 2017.
The new Finance Bill is expected to legislate for the majority of measures that were included in the pre-election Finance Bill but not included in the Act that was rushed through Parliament before the snap election. The Finance Bill was one of 22 Bills fast-tracked through Parliament to receive Royal Assent before the 2016-17 Parliamentary session was brought to a close on Thursday 27 April 2017.
It has also been confirmed that all policies originally announced to start from April 2017 will be effective from that date. On 6 September 2017, the Treasury published updated notes which give a brief description of each of the Finance Bill resolutions. This includes:
As has been previously announced, the introduction of Making Tax Digital (MTD) has been delayed.
In a written statement, Mel Stride, Financial Secretary to the Treasury has confirmed that The Finance Bill will be published on Friday 8 September. The explanatory notes on the Bill will be available from 12 September.