Key tax accounting considerations of the United Kingdom's Finance Act 2012

| July 2012


The UK Finance Act 2012 (FA 2012) was enacted on July 17, 2012 for US GAAP purposes and substantively enacted on July 3, 2012 for IFRS purposes. The Government has also announced various changes which will (subject to consultation) be included in Finance Bill 2013 (FB 2013). Multinational groups with UK entities are encouraged to assess the tax accounting implications of these changes.

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