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UK Confirms 2024 Global Minimum Tax & QDMTT in 2023 Spring Budget

In today’s 2023 Spring Budget, the UK government confirmed that it will include the Pillar Two Global Minimum Tax in the Spring Finance Bill 2023. 

In particular, for accounting periods beginning on or after December 31, 2023, the UK will apply a multinational top-up tax, and a qualified domestic minimum top-up tax.

UPDATE: The Spring Finance Bill 2023 (Finance (No. 2) Bill) was subsequently published on March 23, 2023, along with its Explanatory Notes (see our analysis at: Review of the UK Global Minimum Tax in Yesterday’s 2023 Spring Finance Bill).

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Lee Hadnum

Lee is a qualified Chartered Accountant and a former Senior Tax Analyst at Bloomberg Tax. Lee began his career in Ernst & Young's Entrepreneurial Services department and has 20 years of international tax planning experience.

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