Finance Bill publication announced for 7 November
It has been announced that Finance (No3) Bill will be published on Wednesday 7 November 2018, hot on the heels of the Chancellor’s Autumn Budget statement on 29 October. Enactment of this Bill is expected before the start of the next financial year in April 2019 at the latest.
Autumn Budget 2018 - What could the Budget mean for people and businesses?
The Chancellor has called an early date for this Autumn Budget to focus on the key issues. How will he address the £20bn funding commitment to the NHS? Will he announce a new digital tax? Stella Amiss, Tax Partner, gives her predictions here.
Evidence published on the Draft Finance Bill - Economic Affairs Finance Bill Sub-Committee
Evidence (written and oral) submitted to The Lords Economic Affairs Committee in connection with its inquiry into the Draft Finance Bill was published on 15 October 2018 and can be found here. The inquiry is focussing on the proposals concerning HMRC powers and Making Tax Digital for VAT.
Diverted Profits Tax - The impact of the 2016 rules amendments on royalties
The changes to the diverted profits tax (‘DPT’) rules in 2016 relating to royalties may result in charging notices being issued by HMRC at the end of December 2018 for those companies with a December year end that notified for their year ended 2016. Find a summary here of the amendments and their potential impact, with illustrative examples and key contacts.
Register of beneficial ownership of UK property
In 2016 and 2017 the Government consulted on the proposal to introduce a public register of beneficial ownership of UK Property in order to increase ‘transparency and trust in the UK property market and support law enforcement in their investigations’. The Government then, in July 2018, published draft legislation to implement the Register, with a view to the Register becoming operational in 2021. The key aspects of the draft legislation are set out here.
