• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 6/30/2014

United Kingdom - Amendments to Finance Bill clauses 

June 30: The UK Finance Bill is scheduled to have its "report" stage in the House of Commons on 1 and 2 July. The government has published amendments on several Finance Bill clauses ahead of the bill’s report stage.

The full text of these can be found on the Parliament site.

Some of the more significant amendments concern:

  • Follower penalties
  • Employment-related securities
  • Tax relief for social investment
  • Oil and gas bareboat chartering
  • Theatre tax relief

Read a June 2014 report [PDF 665 KB] prepared by the KPMG member firm in the UK: Weekly Tax Matters (27 June 2014)

Other topics discussed in the KPMG report concern:

  • Holding company tribunal decisions
  • Muster Inns Ltd tribunal decision
  • HMRC help employers prepare for the introduction of late filing penalties
  • HMRC guidance on Paying Class 1A NICs
  • HMRC updates on filing PAYE in real time

©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International.

KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.

The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Direct comments, including requests for subscriptions, to
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.


Share this

Share this


Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)

Already a Subscriber? Login

Not a member? Subscribe now