Few major changes announced, and most previously announced changes confirmed. Autumn Statement to be abolished and replaced by an annual Autumn Budget.
The new Chancellor has largely confirmed his predecessor’s direction of travel in his first Autumn Statement. The planned reductions in the rate of corporation tax remain unchanged and the restrictions on interest relief and loss carry-forwards will also be brought in from next April. The approach appears to be to reduce the headline rate while ensuring that larger businesses still pay significant amounts of tax. More detail is expected when the draft Finance Bill is published on 5 December.
Please find at the link below our summary of the main tax announcements.
Highlights for business include:
- Autumn Statement to be abolished. There will be a Spring Budget next year and then an annual Autumn Budget.
- Corporation tax rate confirmed as going down to 17 percent by 2020.
- Loss relief restrictions to 50 percent of profits for larger groups from 2017 confirmed.
- Interest deduction restriction of 30 percent of EBITDA from 2017 confirmed.
- Consultation on bringing non-resident landlords into corporation tax.
- Most salary sacrifice arrangements rendered ineffective.
- Tax benefits of Employee Shareholder Status removed.
Read our Full Review of the Autumn Statement Here
Key Tax Ruling on Outbound Software Payments: Business Profits vs. Royalties
September 11, 2025
Thailand's latest tax ruling on outbound software payments introduces a rights-based approach to classify payments as business profits or royalties. This shift aligns with international tax standards and impacts cross-border technology transactions, including cloud computing and custom software development. Learn how to optimize withholding tax exposure under this new interpretation.
Managing Director Kevin M. Jacobs Featured in The Wall Street Journal
September 11, 2025
A&M Tax Managing Director Kevin M. Jacobs was recently featured in The Wall Street Journal in an article highlighting the cash savings companies are benefiting from under the new tax law.
Changes Coming to the Washington Sales Tax Landscape on October 1, 2025
September 11, 2025
In May 2025, Washington enacted multiple tax bills into law, including Senate Bill 5814 (SB 5814), which takes effect on October 1st and will broaden the sales and use tax base and the Business and Occupation (B&O) tax retailing classification to include several new services.
US-Mexico treaty notification and protective claim requirements
September 8, 2025
Companies in Mexico with a local presence that are currently undergoing, or may in the future undergo, a tax review for FY 2020 of its transfer pricing policies involving the United States, need to file a protective claim/notification no later than September 30th, 2025.
