The Government published Finance (No. 2) Bill 2016-17 on Monday 20 March.
The Government published Finance (No. 2) Bill 2016-17 on Monday 20 March. Our in-depth analysis on the key issues for businesses, individuals and employers can be found below.
Two amendments have been made to the hybrid mismatch rules to improve the way these rules will work.
The conditions of the SSE have been relaxed significantly, in particular for companies owned by qualifying institutional investors.
New restriction on use of carried forward losses. Most post-1 April 2017 losses no longer streamed and can be surrendered as group relief.
Patent Box implications for companies involved in collaborative research and development (R&D).
From 1 April 2017 a new regime will restrict the tax deductibility
of interest-like expenses for UK companies.
HMRC’s proposed solution to avoid double tax on carry in trusts distributed to a beneficiary may result in unexpected tax liabilities.
UK residential property owned through certain non-UK structures and lenders providing debt finance will be subject to IHT.
Policyholders will be able to apply to HMRC to recalculate gains on part surrenders where the normal rules would produce a wholly disproportionate gain.
Non doms - are you ready for the fundamental change in the compliance landscape that starts on 6 April 2017?
The Finance Bill introduces legislation designed to remove the Income Tax benefits of Optional Remuneration Arrangements (OpRA). However, some question marks remain.
The Finance Bill contains significant changes to the taxation of off-payroll workers in the public sector which are due to come into effect from 6 April 2017.
The Finance Bill contains significant changes to the taxation of termination payments which are due to come into effect from 6 April 2018.
The draft Finance (No 2) Bill 2017 published on 20 March 2017 contains some changes to the earlier legislative proposals on disguised remuneration published on 5 December 2016.
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