HMRC published its new Banking Manual (BKM) in October 2017, containing guidance on corporation tax issues around bank compensation payments, carried-forward losses and the banking surcharge (see http://bit.ly/2wNRfya). The new manual contains the following sections:
BKM200000 Bank compensation restriction;
BKM300000 Bank loss restriction; and
BKM400000 Banking surcharge.
HMRC’s former Banking Manual (BAM) was withdrawn in 2009, with most of the contents incorporated into the Corporate Finance Manual (CFM).
HMRC published its new Banking Manual (BKM) in October 2017, containing guidance on corporation tax issues around bank compensation payments, carried-forward losses and the banking surcharge (see http://bit.ly/2wNRfya). The new manual contains the following sections:
BKM200000 Bank compensation restriction;
BKM300000 Bank loss restriction; and
BKM400000 Banking surcharge.
HMRC’s former Banking Manual (BAM) was withdrawn in 2009, with most of the contents incorporated into the Corporate Finance Manual (CFM).
