As expected, the final Spring Budget was light from a tax perspective, thus helping taxpayers and advisers to get ready for the move to Autumn as the main fiscal event. The Budget mostly confirmed measures which are already in progress, together with highlighting changes following consultation on the earlier draft legislation (albeit with some detail being provided in particular areas). The good news is that in response to comments received, a number of changes will be made to the corporate interest restriction to ensure the rules do not give rise to unintended consequences or impose unnecessary compliance burdens.
This article was first published in the 17 March 2017 edition of Tax Journal.
