Scramble for new deadline

pensions

Changes have been made to the simplified tax regime and more are expected, because after the splitting of the bill a second Finance Act is due to be published later this year

There have been a number of recent changes to the simplified tax regime, as contained in the Finance Act 2005 and in re-issued draft regulations. With more changes promised, and final guidance from the Revenue still awaited, there is increasing concern that the industry will struggle to be ready by 6 April 2006. The Finance Bill 2005 was published shortly after the Chancellor's Budget in March. When the general election was called, it was republished as the Finance (No 2) Bill 2005, with a number of clauses being dropped. After a single day's scrutiny in Parliament, the second Bill was pub...