Draft Finance Bill 2019-20—Tax analysis

Draft Finance Bill 2019-20—Tax analysis

Tax analysis: The government has published draft provisions to be included in Finance Bill 2019–20 together with accompanying explanatory notes, responses to consultations and other supporting documents. This analysis brings together the key tax provisions by topic and explains the changes being made.

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The government has published draft provisions to be included in Finance Bill 2019–20 (FB 2019–20) together with accompanying explanatory notes, responses to consultations and other supporting documents. The consultation on the draft legislation will run until 5 September 2019. FB 2019–20 is expected to be introduced to Parliament in autumn 2019 (after the Budget) and to receive Royal Assent in spring 2020.

The majority of the provisions were previously announced but there were some new announcements relating to:

The following provisions apply with immediate or retrospective effect:

BUSINESS AND ENTERPRISE

Digital services tax

As announced at Budget 2018, and following a government consultation on the detailed design and implementation of the rules that ran until 28 February 2019, FB 2019–20 will include legislation introducing a new 2% tax on the revenues of certain digital businesses.

The new digital services tax (DST) is being

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