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UK: Draft finance legislation expected 11 July 2019

UK: Draft finance legislation expected 11 July 2019

The UK government announced that it will publish draft clauses for Finance Bill 2019-20 on Thursday, 11 July 2019.

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As well as the draft clauses, there will be accompanying explanatory notes, tax information and impact notes, responses to consultations, and other supporting documents.

The majority of the draft legislation is expected to relate to measures that have been announced previously and, in many cases, when there have already been consultations on the policy aims. Stakeholders will be given the opportunity to comment on the draft legislation that will ultimately implement these measures.

A few of the areas for which the tax policy has been consulted on include:

  • Off-payroll working
  • The digital services tax
  • The stamp duty land tax (SDLT) non-UK resident surcharge

Thus, since the government has had time to analyse the comments submitted by stakeholders, the government is now expected to publish its responses, along with draft legislation to be included in the next Finance Bill, on 11 July.

 

Read a July 2019 report prepared by the KPMG member firm in the UK

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