The U.K.’s Autumn Budget marked the country’s second major fiscal event in 2017.
Keenly aware of the uncertainty surrounding the country’s transition out of the European Union, Chancellor Philip Hammond stuck to his usual calm and delivered a steady projection of measures, which is set to see the U.K. maintain competitive tax rates while keeping on par with global anti-avoidance reforms.
There were a few surprises--in a somewhat bold move, Hammond announced plans to clamp down on value-added tax fraud which costs the country up to 1.5 billion pounds ($2 billion), along with a surprise giveaway with a boost to the research and development tax credit, to 12 percent (from 11 percent).
This special briefing provides you with quick highlights of the most significant business tax measures, expert commentary from leading tax practitioners and technical announcements.
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