With 12 months to go until the start of quarterly reporting under Making Tax Digital, the government has set out three options for the new penalty regime for non compliance ranging from a points-based system to annual HMRC compliance checks although the fines, which could be up to £3,000 for those who keep no financial records, will not kick in immediately

The Treasury has confirmed it will go ahead with plans to slash the money purchase annual allowance (MPAA) scheme for pension transfers to £4,000 with less than a month until the new limit comes into force, reports Sara White

The implementation of the 14-day window for filing and payment of stamp duty land tax (SDLT), reduced from 30 days, has been delayed to April 2018 after conveyancers expressed concerns over dealing with complex transactions while complying with the new time frame