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Tax | Spring Budget 2017: disclosure gateway for fulfilment houses

The draft legislation for the fulfilment house due diligence scheme (FHDDS) has been revised to provide a disclosure gateway, permitting HMRC to disclose taxpayer’s information to fulfilment houses, as announced in the spring Budget

9 Mar 2017

Tax | Spring Budget 2017: interest deductibility rules finalised

The government has released long-awaited clarification on the rules on restrictions of interest deductibility, which are due to come into force from 1 April 2017 and are likely to affect nearly 4,000 businesses, particularly multinationals

9 Mar 2017

Tax | Spring Budget 2017: loss relief reform rules updated

Budget 2017 included some changes to planned reforms to the rules governing corporate losses carried forward from earlier periods, which are now expected to bring in an additional £495m in tax this year

9 Mar 2017

Tax | Spring Budget 2017: provisions made in Patent Box for collaborative R&D

Following consultation, provisions are to be made in the Patent Box regime to allow for cases where research and development (R&D) is undertaken collaboratively between two or more companies in a cost sharing arrangement

9 Mar 2017

Tax | Spring Budget 2017: cash basis accounting threshold upped to £150K

At Budget 2017 the Chancellor confirmed that the entry threshold for cash basis accounting is to be raised to £150,000 in a move designed to give more small businesses the choice to benefit from the simplified approach to accounts

9 Mar 2017

Tax | Spring Budget 2017: hybrid mismatch regime amended

The spring Budget included details of plans to make two minor changes to the hybrid mismatch regime, which are intended to ease the compliance burden in relation to certain claims and ensure that amortisation deductions are not within scope of these rules

9 Mar 2017

Tax | Brookes: NIC rise hits partners in accountancy firms

David Brookes, tax partner at BDO LLP, looks at some of the key announcements in the Budget including plans to increase NICs and the impact on partners in accounting firms, dividend tax allowance cuts and longer term fiscal strategy

9 Mar 2017

Tax | Spring Budget 2017: crack down on hidden economy

HMRC has announced it has the hidden economy in its sights, with more details about plans to use conditionality as a tool to tackle non-compliance, as well as tougher sanctions, included in the Spring Budget 2017 overview

9 Mar 2017

Tax | Download: Spring Budget 2017 report

Written by our expert team of tax and accounting writers, the Wolters Kluwer 2017 Spring Budget report delivers expert opinion and commentary on the latest changes to public finance and taxation

9 Mar 2017

Tax | Spring Budget 2017: NIC hike may prompt self employed to set up companies

The surprise 2% rise in Class 4 national insurance contributions (NICs) has angered the self employed, and could force the self employed to set up companies to offset the higher tax liability

9 Mar 2017

Tax | Spring Budget 2017: investment in 'Midlands engine'

Chancellor Philip Hammond used the Budget to announce plans for a new Midlands engine strategy, designed to provide an economic boost to the region, alongside details of the first infrastructure investments from the National Productivity Investment Fund (NPIF)

9 Mar 2017

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Business Tax

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Tax | Spring Budget 2017: tax consultations planned for Spring 2017

The Treasury has also announced at least 10 different reviews into current tax policy including long-term capital finance, state pension age, tax compliance and risk at large businesses, and the penalties regime for Making Tax Digital

8 Mar 2017

Tax | Spring Budget 2017: London granted more devolution

A memorandum of understanding has been agreed between the government, greater London Authority and London councils, which will explore options for business rates and the apprenticeship levy, as well as looking at local influence over careers and employment support services

8 Mar 2017

Tax | Spring Budget 2017: anti-avoidance measures for tax treatment of trading stock

Businesses will no longer be able to convert capital losses into trading losses under an anti-tax avoidance measure introduced in the Budget 2017

8 Mar 2017

Tax | Spring Budget 2017: increase of APD on long haul flights

The Air Passenger Duty (APD) rates for tax years 2018-19 have been announced in the spring Budget showing continued year-on-year increase for long-haul flights, reflecting a continuous increase in the tax level for far away destinations such as Asia and Australia

8 Mar 2017

Tax | Spring Budget 2017: tax loopholes closed with effect 8 March 2017

The following five measures announced in the Budget 2017 by Chancellor Philip Hammond are effective immediately, with a particular focus on curbing tax avoidance activity

8 Mar 2017