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Autumn Budget 2018

Autumn Budget 2018

Expert insight into the Autumn Budget 2018.

Expert insight into the Autumn Budget 2018.

As the uncertainty of Brexit looms, the Chancellor’s Autumn Budget 2018 has taken decisive action on several significant tax changes.

The Chancellor has announced the introduction of a UK digital services tax, with effect from April 2020. The tax will be levied on ‘tech giants’ with global revenues of at least £500 million, and is modelled in part on the European proposals that have been circulating since March. The expected reform to the corporate intangibles regime includes changes to de-grouping charges which will be effective from 7 November 2018.  Relief for certain acquired goodwill will be re-introduced in April 2019. A number of changes to the capital allowances regime were announced, including a new structures and buildings allowance for new non-residential buildings. Changes to the ‘IR 35’ rules, which will shift responsibility for compliance with the off-payroll working rules will from individuals to the organisation, agency or third party paying the individual, have been delayed until April 2020, which will be positively received.

 

Webinar: Autumn Budget 2018

Register now for our webinar on Wednesday 31 October at 13:00. 

Chaired by Melissa Geiger, Head of International Tax, representatives from our tax, pension and private client practices will discuss the announcements made by the Chancellor of the Exchequer, and their implications on you and your business. 

For regular updates on the Autumn Budget 2018, follow KPMG UK Tax on LinkedIn or sign up to KPMG Tax Insights via our Preference Centre.  

For all our press coverage, please visit our Autumn Budget 2018 press releases page

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