The government has confirmed that it intends to proceed with large scale alterations to the rules on the tax deductibility of interest for companies. Sandy Bhogal (Mayer Brown) assesses the potential impact.
The operation of the proposed rules to restrict the tax deductibility of interest for companies with effect from 1 April 2017 was outlined at the recent Budget mainly through the medium of the government’s Business tax road map (published on Budget day). However for context and further detail it is necessary at this stage to refer back to the government’s October 2015 consultation document and the OECD’s final report on Action 4. (Both of these have been addressed in previous editions of Tax Journal and so are not covered in detail here.)
It is the government’s avowed intention to make the UK’s corporation tax regime ‘the...
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The government has confirmed that it intends to proceed with large scale alterations to the rules on the tax deductibility of interest for companies. Sandy Bhogal (Mayer Brown) assesses the potential impact.
The operation of the proposed rules to restrict the tax deductibility of interest for companies with effect from 1 April 2017 was outlined at the recent Budget mainly through the medium of the government’s Business tax road map (published on Budget day). However for context and further detail it is necessary at this stage to refer back to the government’s October 2015 consultation document and the OECD’s final report on Action 4. (Both of these have been addressed in previous editions of Tax Journal and so are not covered in detail here.)
It is the government’s avowed intention to make the UK’s corporation tax regime ‘the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
