HMRC has published a revised set of draft guidance on the new corporate interest restriction, for comment until 31 October 2017.
HMRC has published a revised set of draft guidance on the new corporate interest restriction, for comment until 31 October 2017. This reflects the updated legislation issued on 13 July, which the government has confirmed will be re-introduced in the second Finance Bill of 2017 and take effect from 1 April 2017. When finalised, the guidance will be incorporated into HMRC’s corporate finance manual.
The revised guidance has increased in size from 282 pages in the March version, to 489 pages, with the addition of new sections CFM96600 (alternative calculation), CFM96700 (joint ventures), CFM97700 (property and REITs), CFM97800 (leasing) and CFM98200 (carry-forward rules).
HMRC has published a revised set of draft guidance on the new corporate interest restriction, for comment until 31 October 2017.
HMRC has published a revised set of draft guidance on the new corporate interest restriction, for comment until 31 October 2017. This reflects the updated legislation issued on 13 July, which the government has confirmed will be re-introduced in the second Finance Bill of 2017 and take effect from 1 April 2017. When finalised, the guidance will be incorporated into HMRC’s corporate finance manual.
The revised guidance has increased in size from 282 pages in the March version, to 489 pages, with the addition of new sections CFM96600 (alternative calculation), CFM96700 (joint ventures), CFM97700 (property and REITs), CFM97800 (leasing) and CFM98200 (carry-forward rules).
