In his last Spring Budget Philip Hammond had little truly new to say on tax matters (and tried instead a new line in Labour-related jokes…). He reaffirmed the Government’s commitment to creating a fair and stable tax system to support a robust economy as the springboard for Britain’s next steps into its global future.
Despite that, we’re eagerly anticipating 398 pages of largely additional complex tax provisions to be set out in the Finance Bill, published in final form on 20th March (with further consultations in prospect). This provides a sizeable foundation for a lot of hard work for tax directors and professionals in the weeks and months ahead and does not sit squarely with an economy which must be open for business. Getting to grips with the detail and its practical impact should keep us all occupied until the Autumn Budget comes around!
March 8, 2017