Autumn Statement 2016 | KPMG | UK

The good news is that there is no news, or at least very little news.  In his Autumn Statement on 23 November 2016, the Chancellor of the Exchequer Philip Hammond, announced a “steady as it goes approach” to business taxation.  Whilst the headline announcements from the Autumn Statement include additional billions for economic infrastructure investments and a confirmation that there are no plans to introduce further welfare cuts over the life of the Parliament,  there was little unexpected change from a tax perspective.

The Chancellor has reflected upon the worsening economic forecasts and the uncertainties that lie ahead, by limiting the changes to the tax system to provide business with a period of stability.

Over the summer there were a large number of tax consultations over a range of issues from interest deductibility, use of corporate losses, changes to the individual non UK domiciled regime and additional penalties for enablers of tax avoidance. In the main, these are going ahead although very little detail was released on 23 November 2016. We will have to wait until the draft Finance Bill clauses are released in early December.

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Autumn Statement 2016: the measures

Autumn Statement 2016: the measures

Here you'll find links to our articles that give KPMG's take on the measures announced in the Autumn Statement 2016.

Autumn Statement 2016: On a page

View key figures from the Autumn Statement

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Autumn Statement 2016: Multinationals Overview

An overview of the key issues for multinationals in the UK’s 2016 Autumn Statement.

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Autumn Statement 2016: SMEs Overview

The key issues for small and medium businesses in the UK’s 2016 Autumn Statement.

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Autumn Statement 2016: Individuals Overview

The Autumn Statement brought a welcome degree of stability for the taxation of individuals

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Autumn Statement 2016: Employer Overview

From a people and pay perspective there will be reviews and calls for evidence in 2017.

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Autumn Statement Webinar

View the recording of the tax-focused Autumn Statement webinar

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Finance Bill 2017 Draft Clauses

KPMG’s Commentary on the Draft Finance Bill 2017 provides an overview of the clauses.

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