Corporate tax update, third quarter 2017

Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s Tax Team and published quarterly.

In this edition we highlight some of the key tax developments of interest to UK corporates from the third quarter of 2017.

In early September the Finance (No.2) Bill 2017 was published. This Bill contains those provisions that were removed from the Finance Bill 2017 in order for that Bill to receive Royal Assent before this year’s general election. Less than a week later, draft legislation for the Finance Bill 2018 was published. Sandwiched in between these two events was an announcement that the Chancellor’s first Autumn Budget would be delivered on 22 November 2017.

In other highlights this quarter also saw the publication of a decision on corporate tax residence, the Supreme Court decision in the Rangers FC case, the ECJ take a narrow view of the scope of the VAT cost sharing exemption, and the first published opinion of the GAAR panel.