Autumn Budget 2017—Summary of key announcements and background

Autumn Budget 2017—Summary of key announcements and background

A summary of the key business tax announcements made in the Chancellor’s Autumn Budget on 22 November 2017.

CONTENTS

  1. BUSINESS AND ENTERPRISE
  2. INCENTIVISED INVESTMENT
  3. EMPLOYMENT TAXES AND SHARE INCENTIVES
  4. REAL ESTATE TAXES
  5. FINANCE
  6. VAT
  7. TAX ADMINISTRATION AND AVOIDANCE
  8. INTERNATIONAL
  9. ENERGY AND ENVIRONMENT

KEY BUSINESS TAX ANNOUNCEMENTS

Key announcements that were new for Autumn Budget 2017 include:

  1. a significant collection of measures on venture capital schemes to encourage more investment in high-risk innovative companies
  2. changes to the rules taxing both non-resident individuals and non-resident companies in respect of UK property
  3. the consultation on extending the off-payroll working rules to the private sector
  4. confirmation that the UK will not seek to reintroduce the higher 1.5% rate of stamp duty and SDRT on exit from the EU, and
  5. the proposed introduction of withholding tax on royalties paid to recipients in low tax jurisdictions that relate to UK sales, regardless of the location of the payer

For the key Private Client announcements, see: Autumn Budget 2017—Lexis®PSL Private Client analysis.

Measures with immediate effect

New measures with effect from 22 November 2017:

  1. Capital

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