a reduction in the lifetime limit for entrepreneurs’ relief;
changes to the rate and details of the structures and buildings allowance; and
an adjustment to the bank surcharge rules.
Other key announcements include:
a review of the regulation and taxation of funds;
a new notification requirement for large businesses;
confirmation that the digital services tax will apply from 1 April 2020;
new measures to further target promoters of tax avoidance schemes;
legislation to be included in FB 2020 to clarify the application of allowances and reliefs in the calculation of top slicing relief for life assurance policy gains;
confirmation that draft legislation published in July 2019 relating to CGT principal private residence relief reforms will be contained unamended in FB 2020; and
introduction of a 2% surcharge on SDLT for non-UK residents purchasing residential property in England and Northern Ireland from 1 April 2021.
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a reduction in the lifetime limit for entrepreneurs’ relief;
changes to the rate and details of the structures and buildings allowance; and
an adjustment to the bank surcharge rules.
Other key announcements include:
a review of the regulation and taxation of funds;
a new notification requirement for large businesses;
confirmation that the digital services tax will apply from 1 April 2020;
new measures to further target promoters of tax avoidance schemes;
legislation to be included in FB 2020 to clarify the application of allowances and reliefs in the calculation of top slicing relief for life assurance policy gains;
confirmation that draft legislation published in July 2019 relating to CGT principal private residence relief reforms will be contained unamended in FB 2020; and
introduction of a 2% surcharge on SDLT for non-UK residents purchasing residential property in England and Northern Ireland from 1 April 2021.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
