The UK Chancellor of the Exchequer announced his budget on 16 March. This may be the last budget before the UK referendum on leaving the European Union.
There are a number of interesting compliance issues arising from the budget including a new “sugar levy” on the soft drink industry from April 2018. The Chancellor also announced an attack on the use of personal service companies – some corporations have historically used personal service companies for contractors to reduce the number of employees they have “on the books”.
Clearly at Cordery we focus on compliance and legal issues rather than tax but our friends at Tolley have produced an interesting summary of some of the wider budget proposals here.
Jonathan Armstrong is a lawyer with Cordery in London where his focus is on compliance issues.
Jonathan Armstrong, Cordery, Lexis House, 30 Farringdon Street, London, EC4A 4HH
Office: +44 (0)207 075 1784