UK: Will the 2016 budget include business tax outline?

UK: Will the 2016 budget include business tax outline?

The Chancellor of the Exchequer will be presenting the 2016 Budget on Wednesday 16 March 2016. With speculation of further spending cuts to come, the Chancellor may also seek to raise revenues with changes to the tax system.

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Businesses will also be awaiting further details on the “Business Tax Roadmap” that was promised last year and may be published on Budget Day. It is expected to contain an outline and timetable of changes to business taxation due to be introduced during this Parliament. This is expected to include plans for the UK implementation of the OECD base erosion and profit shifting (BEPS) proposals and, in relation to these proposals, further details on the deductibility of corporate interest expense that was consulted on last year. 

 

 

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