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Slimmed Down UK Finance Bill 2017 Passes House of Commons

27 April 2017

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Proposed Changes

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United Kingdom

A slimmed down version of the UK Finance (No. 2) Bill 2017 has passed the House of Commons and is now before the House of Lords. Going from 762 pages to 148 pages, this version of the bill maintains most of the simpler and standard provisions, such as the setting of the income and corporation tax charge and rates, while several more complex measures are removed. This includes several corporation/business tax measures, which are expected to be reintroduced after the 8 June snap general election, including the new rules on: Carried-forward losses; Corporate interest restriction; Profits from the exploitation of...