HMRC has published a second tranche of the draft guidance on changes to the treatment of carried-forward corporation tax losses from 1 April 2017. This part of the guidance covers group relief and the relaxation of carried-forward non-trade losses.
HMRC has published a second tranche of the draft guidance on changes to the treatment of carried-forward corporation tax losses from 1 April 2017. This part of the guidance covers group relief and the relaxation of carried-forward non-trade losses. The first tranche of draft guidance, published in July 2017, focused on the core rules and other aspects where guidance had been specifically requested. HMRC says it will issue amended and further draft guidance in due course.
The legislation, contained in Schedule 4 to the second Finance Bill 2017, is to have retrospective effect from 1 April 2017 and has two main aims:
The rules apply to all companies and unincorporated associations subject to corporation tax.
HMRC invites comments on the draft guidance by 5 January 2018. See http://bit.ly/2zkZrdA.
HMRC has published a second tranche of the draft guidance on changes to the treatment of carried-forward corporation tax losses from 1 April 2017. This part of the guidance covers group relief and the relaxation of carried-forward non-trade losses.
HMRC has published a second tranche of the draft guidance on changes to the treatment of carried-forward corporation tax losses from 1 April 2017. This part of the guidance covers group relief and the relaxation of carried-forward non-trade losses. The first tranche of draft guidance, published in July 2017, focused on the core rules and other aspects where guidance had been specifically requested. HMRC says it will issue amended and further draft guidance in due course.
The legislation, contained in Schedule 4 to the second Finance Bill 2017, is to have retrospective effect from 1 April 2017 and has two main aims:
The rules apply to all companies and unincorporated associations subject to corporation tax.
HMRC invites comments on the draft guidance by 5 January 2018. See http://bit.ly/2zkZrdA.