The Government has significantly amended the Finance Bill 2017. The much reduced Bill removes some of the most controversial provisions of the Bill, including clauses relating to Making Tax Digital, the new deemed domicile rules for non-domiciled individuals, penalties for enablers of defeated tax avoidance schemes and the Future Loan Charge provisions.
These deletions were made because of the impending General Election. However, the “reprieve” may be short-lived as the Government has indicated that if re-elected it will reintroduce the dropped provisions at the earliest opportunity.
Details on the clauses and schedules removed from the Bill can be found here.