The government intends to reintroduce the provisions withdrawn from the pre-election Finance Bill in a new Bill as soon as possible after summer recess. Whilst most provisions are expected to be unchanged, revised draft legislation has been published covering corporate interest restrictions, corporation tax loss relief reform, amendments to the anti-hybrid rules, the ‘non-dom’ reform, inheritance tax on UK residential property and tackling avoidance on disguised remuneration. The measures will apply from the dates previously announced. The government has also announced a relaxation of its making tax digital approach, with provisions due to be included in the Bill to this effect.
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