UK: "Autumn Statement" confirmed for 25 November

Tax legislative update in UK

The Chancellor announced that this year’s Autumn Statement will be made at the same time as the spending review, already scheduled for 25 November 2015. The parliamentary schedule is different this year, with the election. This means that there is a Finance Bill to complete before the Autumn Statement.


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The Finance Bill 2015-16 had its second reading on 21 July 2015, with the committee stages to be completed after the summer recess. Following Parliament’s return this week, a selection of clauses was debated by the House of Commons in the “Committee of the Whole” on 8 September. The remainder will now be considered by a Public Bill Committee, with the first sitting of the provisionally scheduled for Thursday, 17 September. This will be followed by another recess, from 17 September to 12 October, so that the remaining sittings will be between 12 and 20 October. 


Read a September 2015 report prepared by the KPMG member firm in the UK:  Weekly Tax Matters (11 September 2015)


Other items discussed in the KPMG report concern:

  • HMRC and HM Treasury consultation on an exemption from withholding tax for interest payments made with respect to qualifying private placements
  • Indirect tax judgments and updates
  • Employment tax and HMRC guidance on outstanding employment-related securities annual returns; new enforcement measures for National Minimum Wage/National Living Wage

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