Finance and Accountancy Briefing

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Current Tax Developments - Winter 2010/11


Although the Chancellor opted to give an Autumn Statement in November 2010 rather than a Pre-Budget Report as favoured by his predecessors, his announcement of a ‘road map’ towards a more attractive corporation tax regime
in the UK looks to be a positive development. Welcome changes to the rules for controlled foreign companies and the new exemption regime for overseas branch profits will be introduced by Finance Act 2011. International companies can look forward to further positive changes in future even if, given the Government’s current financial circumstances, the road map is as much as the Chancellor can currently do to show that he is serious about reducing taxes for companies.

The flurry of announcements, draft legislation and consultation documents following the Autumn Statement has been challenging to keep on top of but at least with the draft Finance Bill for 2011 already published we have plenty of notice of future tax changes – in contrast to the last ten years.

This guide includes information about;

- Business tax
- VAT developments
- Personal tax

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