Finance Bill receives Royal Assent

The Finance Bill 2017-18 officially known as Finance (No.2) Bill 2017-19, received Royal Assent on 15 March 2018 following agreement by both Houses. The Bill is now an Act of Parliament to be called the Finance Act 2018. The Act contains the legislation for many of the tax measures that were announced by the Government at Autumn Budget 2017.

Finance Act 2018, introduces a number of diverse measures including the introduction of a new permanent Stamp Duty Land Tax relief for first-time buyers, the freezing of the capital gains indexation allowance for companies from the end of 2017, increases in Vehicle Excise Duty and Company Car Tax rates for diesel cars, and higher limits for some Enterprise Investment Scheme and Venture Capital Trust investments.

The Finance Act also puts in place several new measures to tackle tax avoidance, evasion, and non-compliance in areas including offshore trusts, disguised remuneration and VAT evasion by online sellers.

Posted in General

Exeter Accountant MJ Smith & Co

Celebrating 25 years of excellence.

Free 1st Meeting
Fixed Fees
Free Support!

Find out more

Client Portal Login

Forgot Password?

Latest News

Tax codes for employees

The P9X form is used to notify employers of the tax code to use for employees. The form shows the …
Read More

EIS Income Tax relief restriction for connected parties

The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies raise finance by offering a range of …
Read More

Reduction in special Writing Down Allowance

Businesses can claim Capital Allowances tax relief for certain types of capital expenditure. For expenditure on plant and machinery that …
Read More

Twitter Feed