U.K. - Enacts Diverted Profits Tax and More | KPMG | CA
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U.K. - Enacts Diverted Profits Tax and More

U.K. - Enacts Diverted Profits Tax and More

In its 2015 Finance Bill, the U.K. enacted a new 25% diverted profits tax.


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The U.K. recently enacted its new 25% diverted profits tax that will affect non-U.K. resident groups that make sales of more than £10 million to U.K. customers and companies that achieve an effective tax rate benefit through payments to group companies. The diverted profits tax is separate from corporation tax and is aimed at multinationals entering into "contrived arrangements" to divert profits from the U.K.

The U.K.'s 2015 Finance Bill, which just recently passed into law, also extends the capital gains tax regime to non-U.K. residents disposing of U.K. residential property. There are also provisions relating to the tax treatment of oil and gas, investment management fees, inheritance taxation, and research and development (R&D) tax relief.

For more information, contact your KPMG adviser.


Information is current to April 07, 2015. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

For more information, contact KPMG's National Tax Centre at 416.777.8500

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