Finance Act 2008 receives Royal Assent

The Finance Act 2008 received Royal Assent on 21 July 2008. The Act brings into force many of the measures announced in the Budget of 12 March 2008.

Double taxation relief following change in corporate tax rate

On 3 July 2008, the Financial Secretary to the Treasury announced that, due to an oversight, the 2008 Finance Bill did not take into account the effect of the reduction in the corporate tax rate on the rules granting double taxation relief for fo…