Avoidance measures take immediate effect

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Several anti-avoidance measures mentioned by the Chancellor in his Autumn Statement took immediate effect from 5 December, the date of his speech.

In a separate ministerial statement issued the same day, Exchequer secretary to the Treasury David Gauke (right) informed Parliament that the following measures to be included in the Finance Bill 2013 will apply immediately. The retrospective tweaks are allowed under a protocol for announcements made outside scheduled fiscal events set out in last year’s Budget, he explained.

The avoidance measures concerned are:

  • Bank Levy – double taxation relief - as part of his “we’re all in this together” theme, the Chancellor emphasised that the banks would not be able to enjoy the reducti...

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