Spring Budget 2017
08 Mar 2017
As part of the Spring Budget 2017, the government has confirmed that it will consult on the case and options for bringing non-UK resident companies who are currently chargeable to Income Tax on their taxable income and to non-resident Capital Gains Tax (CGT) on certain gains within the scope of corporation tax. Under such a move, these companies would then be subject to the rules which apply generally for the purposes of Corporation Tax, including the limitation to corporate interest expense deductibility and loss relief rules. The consultation will be launched on 20 March.
A link to the main tax points announced today can be found here.