The draft Finance Bill 2019 was published on 6 July 2018 together with various policy papers and summaries of responses to earlier consultations.
Most of the new proposed measures in the Bill will be effective from April 2019 or later.
Key measures affecting individuals and SME owners include:
- Rent-a room relief: a restriction to the relief by adding a new shared occupancy condition.
- Profit fragmentation: anti-avoidance measures and disclosure requirements to prevent UK traders or professionals from avoiding UK tax by fragmenting their UK income between unrelated entities.
- Entrepreneurs' Relief: a protection for shareholders from a loss of ER due dilution of their shareholding to fall below 5% due to a commercial fundraising event.
- Tax penalties: new systems of tax penalties for late submission, late payment and deliberate late submission.
- Employment taxes: adjustments to benefits on emergency vehicles, OpRA and workplace charging, simplification of administration when scale rates are paid for travel.
- Extending Non-resident CGT to commercial property.
- Bringing overseas landlord companies into corporation tax.
- Changes to payment windows for NR CGT and SDLT
- Gift Aid: simplifying donor benefit rules
The draft Finance Bill 2019 was published on 6 July 2018 together with various policy papers and summaries of responses to earlier consultations.
Finance Bill 2019: tracker and rolling planner
Our tracker which tracks the progress of consultations, outcomes and tax policies for each year.
Finance Act 2018: tracker and rolling planner
Our tracker which follows all key tax developments during the 2018/19 tax year.
