A package of cuts to capital gains tax taper rules – a maximum rate of 10% will apply after just four months.
Changes to the rules for group relief and capital gains which the government claims will give companies more freedom to structure in the way that suits their business, rather than structuring themselves around the tax system.
Consultation on rollover relief for gains on the disposal of substantial shareholdings by companies.
Reforms to double tax relief to help branches of international businesses being taxed twice.
Review of rules on tax relief on costs of purchasing goodwill and other intangibles.
New tax relief on cost of acquiring capacity in submarine telecommunications cables to help open up the online world to competition.
Changes in the tax treatment of ‘ratchet loans’.
Abolition of withholding tax on international bond interest.
Anti-avoidance rules for CFCs to be strengthened.
New rules for the taxation of insurance reserves.
Crackdown on stamp duty avoidance schemes.
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals