Observers urge caution amid political uncertainty and changes at HM Treasury

The appointment of a new minister with responsibility for tax, together with ongoing political uncertainty as the Conservatives seek to form a government, has prompted tax professionals to call for a period of reflection on tax issues, including the Making Tax Digital project.

Although the Conservatives secured the largest number of seats in the House of Commons in the June 8 general election, they failed to win a majority. The party began discussions on June 13 with Northern Ireland’s Democratic Unionist Party, which had agreed to explore how it could support a Conservative government and provide stability during the critical Brexit negotiations set to start on June 19.

Prime Minister Theresa May has appointed Mel Stride, Conservative member of Parliament for Central Devon, as financial secretary to the Treasury. Read more:

My news story for Tax Analysts, June 14 (paywall)