Mike Lane and Zoe Andrews (Slaughter and May) take a look at recent developments affecting the City.
Autumn Budget and Finance Bill 2018
With the government turning to technology companies rather than banks as the target for new revenue raising measures the banks appear to have got off lightly for once. Some welcome developments for the City are set out below.
Bank levy rescope
It was confirmed that the rescope planned from 2021 (which will limit the application of the bank levy to UK balance sheets for UK based and foreign banks alike) will be legislated for in Finance Bill 2018 and that some technical changes will be made to the bank levy calculation prior to that. From 1 January 2019 the largest retail banks will be required to...
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Mike Lane and Zoe Andrews (Slaughter and May) take a look at recent developments affecting the City.
Autumn Budget and Finance Bill 2018
With the government turning to technology companies rather than banks as the target for new revenue raising measures the banks appear to have got off lightly for once. Some welcome developments for the City are set out below.
Bank levy rescope
It was confirmed that the rescope planned from 2021 (which will limit the application of the bank levy to UK balance sheets for UK based and foreign banks alike) will be legislated for in Finance Bill 2018 and that some technical changes will be made to the bank levy calculation prior to that. From 1 January 2019 the largest retail banks will be required to...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
