2015–16—Autumn Statement to Finance Bill

ARCHIVED: This Practice Note has been archived and is not maintained.

This subtopic draws together content on the Finance Bill year 2015–16, ie starting with the Autumn Statement in November 2015 and following through the Budget in 2016 to the passage through parliament of the Finance Act 2016. For more information on the annual Budget and Finance Bill process, see Practice Note: The Budget and Finance Bill process.

Finance

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Autumn Budget 2024—Tackling tax non-compliance in the umbrella company market

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This week's edition of Tax weekly highlights includes: (1) the Supreme Court decision in Refinitiv concerning the interaction between the diverted profits tax and an advance pricing agreement, and (2) the Supreme Court decision in Cobalt Data Centre on the scope of the enterprise zone allowance.

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The Supreme Court unanimously dismissed the taxpayers’ argument that the relevant expenditure fell within section 298(1) of the Capital Allowances Act 2001 (CAA 2001) and concluded that, based on the proper interpretation of that provision, the expenditure was not incurred under a contract executed prior to the conclusion of the initial ten-year period, as required. Adam Craggs, partner at RPC, discusses the implications that the judgment has on taxpayers going forward.