Category Archives: Finance Bill 2017

Following the announcement in the Autumn Statement, the revised draft legislation relating to the new regime on the taxation of termination payments, due to apply from April 2018, was published on 5 December 2016. As presaged by the Chancellor, the legislation has greatly simplified the original proposals, removing the complexity (and the potential unfairness) inherent … Continue reading The new termination payments regime – draft legislation published

The UK’s Substantial Shareholdings Exemption (“SSE”) will be extended from April 2017. The main beneficiaries will be investment companies selling shareholdings of 10% or more in trading companies and companies owned by institutional investors which are themselves exempt from UK tax on capital gains The SSE was introduced in 2002 to permit trading groups to … Continue reading Substantial Shareholdings Exemption to be extended

Draft legislation published on Monday goes some way to address concerns raised during the consultation process. Importantly, the provisions have been limited to circumstances where there are abusive tax arrangements which are defeated.  Whether there are abusive tax arrangements is determined in accordance with the familiar GAAR criteria, under FA 2013.  For some reason the … Continue reading Penalties for tax avoidance enablers – Finance Bill provisions

In the Autumn Statement, the Government confirmed that it would remove the tax advantages of salary sacrifice for arrangements put in place after April 2017.  Certain benefits provided through salary sacrifice (accommodation, cars and school fees) will  be protected until 2021 and other benefits can still benefit from tax savings indefinitely (pensions, cycles, childcare, certain … Continue reading Salary sacrifice draft legislation now published

As expected, HMRC has published its response to the consultation on the remote gaming duty (“RGD”) treatment of “freeplays”.  You can find it here.  It has also published draft legislation (as part of the draft Finance Bill 2017) imposing the new RGD charge on freeplays, which has been amended as a result of the consultation (the … Continue reading Details of remote gaming duty charge on “freeplays”