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Finance Bill 2017

We understand that a short Finance Bill may be passed before Parliament is dissolved.

It is understood that this will exclude many of the measures which affect non-UK domiciliaries and UK residential property held through a corporate vehicle.  It is not the first time that highly technical issues have been delayed in this way when a general election has loomed.

Before Mrs May announced an election, it had been expected that the Finance Bill would be passed in summer 2017, with the measures taking effect from 6 April 2017.  No-one can predict the outcome of the election, nor a new Government’s stance. It is possible that this might be used an opportunity to change the plans, or to delay the implementation timetable, but there are no obvious reasons why a new Government would not implement those measures in a further Finance Bill in the next Parliament, or why those measures would not still take effect from 6 April 2017.

If you have concerns about this, please do get in touch with your usual contact at Maurice Turnor Gardner LLP.

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