Discussions on reforming the 40-year old system began in August last year as the Treasury pledged to simplify the tax system.
An extension is necessary because complex questions have been raised about transitional costs and the treatment of assets, the FT reported.
Under proposal is a change in the way capital gains are taxed; moving from a system of taxing the proceeds from actual disposals to a one based on amounts stated in the accounts.
This has already drawn concern from the CBI, who says such a system could hit company cashflows, and from small businesses who describe the proposals as oppressive.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states