Finance Bill 2015 draft clauses

Finance Bill 2015 draft clauses

Draft legislation for proposed tax changes, including some announced at Budget 2014 and consulted on over the summer, has been published

Chris Morgan

Tax Partner - Head of EU Tax Group

KPMG in the UK


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Autumn Statement 2014

Draft clauses for next year's Finance Bill have been published. Our commentary and analysis will be available on this page shortly.

Our commentary

Read KPMG’s Finance Bill 2015 Draft Clauses Commentary which includes some of the detail behind the key measures announced.

Diverted profits tax - read our press release

Commenting on legislation in today’s draft Finance Bill giving further details on the Chancellor’s measure to charge a new 25 percent rate on multinational companies’ profits ‘artificially diverted’ from the UK, Chris Morgan, head of tax policy at KPMG in the UK, said:

“Diverted profits are like the proverbial elephant; you know it when you see it but it’s difficult to define. Today’s draft legislation is a 70 page plus document that attempts to define this ‘elephant’ as it were. In reality what is actually a fairly narrow measure by the Chancellor, the Diverted Profits Tax has two broadly defined aims."

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This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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