21st March 2017

The government has published draft legislation to implement policies announced at Spring Budget 2017 and Autumn Statement 2016.

Some of the legislation to be implemented:

  • expanding the business investment relief 
  • ending the permanency of non-dom status
  • reforming tax rules on salary sacrifice schemes 
  • tax avoidance: a new penalty for those enabling the use of tax avoidance schemes and deterring those gaining an unfair tax advantage through transferring pensions abroad
  • soft drinks levy: the levy will be used to invest in school sports and healthy living programmes. 

The bill also contains measures on implementing Making Tax Digital. Eventually businesses, self-employed people and landlords will need to update HMRC quarterly through digital software.

Contact us today to discuss how the Finance Bill 2017 will affect your business.