A round up of other news this week.
HMRC have published guidance in INTM 610000 on the new Profit Fragmentation Rules which apply to transfers of value that take place on or after 1 April 2019 for corporation tax and 6 April 2019 for income tax.
James Stewart, Head of Brexit at KPMG UK, provided KPMG’s view on Brexit stating that the Brexit holiday that businesses might have been enjoying is now over. Businesses are watching politics with a certain amount of resignation, pondering what a new Prime Minister will mean for their Brexit plans and if ‘no deal’ will soon be back on the table. Few businesses are in the mood to make further provisions at this stage and most hope that the leadership contest will be over quickly.
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