On 10 December 2014, U.K. HM Treasury and HM Revenue & Customs issued draft measures announced in Autumn Statement 2014 and Budget 2014. Most of the draft measures will be included in Finance Bill 2015, although some will be included in secondary legislation. The main business related tax measures are summarized below: Diverted Profits Tax Diverted Profits Tax legislation will be introduced in Finance Bill 2015 targeting mainly multinational enterprises that divert profits from the U.K. The tax will apply to arrangements that erode the U.K. tax base by the avoidance of a U.K. permanent establishment, or by the transfer...