On 16 March 2016, the Chancellor of the Exchequer, George Osborne, presented the 2016 Budget. Along with the announcement of a reduction in the main rate of corporation tax to 17% in 2020, the Business Tax Roadmap was published, containing an outline and timetable of changes to business taxation due to be introduced during this Parliament.
This year’s budget introduces a number of changes that will affect M&A transactions. One of the most notable aspects was the announcement that the UK will be introducing a restriction on the tax deductibility of interest expenses consistent with the OECD recommendations. The new rules will apply from 1 April 2017.
Read the full article in the M&A Matters Spring edition PDF to hear more on KPMG's coverage of the Budget 2016 and its impact on M&A transactions.
For more information, please contact:
Director, Corporate finance
KPMG in the UK
T: +44 (0)20 76944318