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Autumn Budget 2018

Autumn Budget 2018

Expert insight into the Autumn Budget 2018.

Expert insight into the Autumn Budget 2018.

As the uncertainty of Brexit looms, the Chancellor’s Autumn Budget 2018 has taken decisive action on several significant tax changes.

The Chancellor has announced the introduction of a UK digital services tax, with effect from April 2020. The tax will be levied on ‘tech giants’ with global revenues of at least £500 million, and is modelled in part on the European proposals that have been circulating since March. The expected reform to the corporate intangibles regime includes changes to de-grouping charges which will be effective from 7 November 2018.  Relief for certain acquired goodwill will be re-introduced in April 2019. A number of changes to the capital allowances regime were announced, including a new structures and buildings allowance for new non-residential buildings. Changes to the ‘IR 35’ rules, which will shift responsibility for compliance with the off-payroll working rules from individuals to the organisation, agency or third party paying the individual, have been delayed until April 2020, which will be positively received.

Wednesday 31 October, Melissa Geiger, Head of International Tax and Tax Policy, was joined by a number of colleagues from the wider tax practice to discuss the Chancellor's key annoucements. Listen to the recording of the webinar or view the sides

 

Webinar: Digital Services Tax 

The Chancellor has announced the introduction of a UK Digital Services Tax from 2020. What has been the reaction to these proposals and how does the Chancellor’s initiative compare to other digital tax initiatives around the globe? 

Matthew Herrington, International Tax Partner, and Kirsty Rockall, International Tax and Transfer Pricing Partner, hosted a webinar on Thursday 8 November to explore these themes in addition to working through some of the UK specific aspects of the Budget 2018 proposal. Listen to the recording on demand here, or download the slides

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