Global

Details

  • Service: Tax, International Corporate Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 3/20/2013

United Kingdom - Initial impressions of Budget 2013 

March 20: The UK Chancellor of the Exchequer today presented the Budget 2013.

Read initial impressions of tax and other fiscal provisions in the Budget 2013 on the website of the KPMG member firm in the UK (look to the right column “Latest Budget news releases” for reports that are being posted during the day).


Among initial reports concerning tax in today’s release are the following:


  • A reduced 20% rate of corporation tax
  • Extension of creative-sector tax relief
  • A business-friendly budget on tax
  • Revised government procurement tax rules
  • Personal allowance to increase by ₤10,000 by April 2014, rather than as of the end of parliament
  • The fuel duty rate increase, scheduled for September 2013, cancelled
  • A 10% boost for investment in research and development (R&D)

The Budget 2013 documents are available on the HM Treasury website.




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