The UK Chancellor of the Exchequer on 25 November 2015 delivered the Autumn Statement, and as in prior years, this year’s Autumn Statement included tax-related announcements. Among the items presented this year are proposals for a 60% penalty on arrangements successfully challenged under the anti-abuse rule and reductions to the rate of corporation tax, proposed to phase down eventually to 18% effective from 2020.
Now that the Autumn Statement has been presented, draft clauses for next year’s Finance Bill release (the next stage in the UK’s tax policy cycle) will be published on Wednesday 9 December 2015—two weeks after this week’s Autumn Statement.
Other news reported this week included the following developments.
Read these and other items reported this week on the TaxNewsFlash webpages.
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