On 8 March 2017, UK Chancellor of the Exchequer Philip Hammond delivered the Spring Budget 2017 to parliament. With regard to corporation tax, the Budget introduces certain new measures and confirms measure previously announced. Some of the main measures that will be included in the Finance Bill 2017 are summarized as follows.
Offshore property developers
The legislation on profits from trading in and developing land in the UK in the Finance Act 2016 will be amended to remove the exception…