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Draft Finance Bill 2017—substantial shareholding exemption

Draft Finance Bill 2017—substantial shareholding exemption
Published on: 03 January 2017
Published by: LexisPSL
  • Draft Finance Bill 2017—substantial shareholding exemption
  • Original news
  • What is the background to the reform of the SSE?
  • What are the main changes to the SSE in the draft Finance Bill 2017?
  • Will the changes allow many more disposals to benefit from the SSE, or is it more that it will be simpler to show that the conditions are met?
  • In what type of scenario might a company benefit from the extension of the period during which the shareholding requirement may be met?
  • Will businesses be disappointed that the SSE is not being extended to investee/target companies that have an active business, but are not trading?
  • What changes are being introduced for institutional investors? How is an institutional investor defined and why are they being treated differently?
  • Are the changes for institutional investors likely to have much impact?
  • When do the changes take effect?

Article summary

Tax analysis: Iain Kerr, director of M&A tax at KPMG UK, outlines the proposed reform of the substantial shareholding exemption (SSE) by the draft Finance Bill 2017. He explains that, while some businesses may be disappointed by the lack of a comprehensive participation exemption, the changes will ultimately make the system simpler and easier to understand, as well as more internationally competitive. or take a trial to read the full analysis.

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