The Government published Finance (No. 2) Bill 2017-19 on Friday 1 December. As this Bill will eventually be enacted as Finance Act 2018, we will refer to it as Finance Bill 2018 in our coverage.
In line with what we saw at the Autumn Budget, Chancellor Phillip Hammond has delivered what many had expected – a Finance Bill with few surprises. The measures in the Bill, including some of the headline measures on SDLT relief for first time buyers, CGT for companies, research and development expenditure credits and offshore trusts anti avoidance, were largely as expected – for more details, see our Tax Matters Digest article.
While most of the Bill is as expected following previous announcements, some highlights include:
The Bill contains clauses to implement the amendments to the CIR rules announced at the Autumn Budget.
Following representations received, HMRC have dropped a key measure.