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Two weeks to 14 March 2019

Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.

Was there anything in the Spring Statement to write home about?
The Chancellor of the Exchequer, Philip Hammond presented his Spring Statement to Parliament on Wednesday 13 March 2019. This Written Ministerial Statement provides more detail on some of the announcements and sets out details of other forthcoming government policies. Stella Amiss, UK Tax Leader for Policy, Reputation, Media & Regulation, reflects on Spring Statement 2019 here and Senior Economist, Mike Jakeman, discusses the economic implications of the Chancellor's Spring Statement in this short video. For live updates and reactions, follow our live feed of the Spring Statement, here. Keep your eye on the Suite in the coming days, for further reactions and analysis.

Offshore receipts regulations
PwC took part in discussions with HMRC following the publication of the new Offshore Receipts in respect of Intangible Property legislation at Budget 2018. Following that meeting, HMRC has provided an update regarding plans to introduce regulations to refine the offshore receipts regime. Read more.

Planned negotiations on Double Taxation Agreements for 2019
HMRC has announced details of the UK’s treaty negotiating priorities for 2019. See this HMRC policy paper for details of the programme for 2019 and developments in the last year.