Treasury announces “modernising” tax changes

The Treasury is the latest government department to modify its rules and regulations in an effort to raise London’s competitive position in global markets. Following a meeting of the Chancellor’s High Level Group in February – only the second meeting since the group was formed to tackle concerns about the competitiveness of London’s financial services – HM Treasury announced three tax-related measures that “taken together, will help expand choice and increase competition in the provision of services to trade financial instruments in the UK”.