Other news in brief | KPMG | UK

Other news in brief

Other news in brief

A round up of other news this week.

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It has been confirmed that the 2017 Finance Bill will be published on 20 March 2017. 

The Criminal Finances Bill has gone through its Report Stage and Third Reading in the House of Commons. The Bill will introduce a new corporate criminal offence of failing to prevent the facilitation of tax evasion. It will now proceed through its House of Lords stages, with the Second Reading scheduled for 9 March 2017.

A draft version of the Corporate Interest Restriction (Consequential Amendments) Regulations 2017 has been published for consultation, along with an explanatory memorandum. These Regulations contain the proposed provisions for collective investment vehicles and securitisation companies under the new Corporate Interest Restriction rules. The consultation will remain open until 18 April 2017.

The Economic and Financial Affairs Council of the EU (ECOFIN) have approved new anti-hybrid rules at their meeting on 21 February 2017.

In a recent SDLT case, the First-tier Tribunal held that permission to appeal out of time was not effectively given by the actions of the FTT in allocating the appeal to the standard category, issuing a general stay of proceedings and forwarding the appeal to HMRC.

A tax information and impact note has been released on the new Lifetime ISA, to be established from 6 April 2017.

60 percent of European banks expect capital requirements against non-financial risks to increase in the near future, according to new research from KPMG in the UK.

Global investment into fintech companies was down across the board in 2016 as political uncertainty heated-up and the fintech hype cooled, according to KPMG International’s The Pulse of Fintech – a quarterly report on global fintech investment.

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