HMRC is consulting on draft regulations amending the rules on simplified arrangements for group relief claims, to include carried-forward losses. Current rules on group relief only allow losses to be surrendered for the year in which they arise.
HMRC is consulting on draft regulations amending the rules on simplified arrangements for group relief claims, to include carried-forward losses. Current rules on group relief only allow losses to be surrendered for the year in which they arise. Legislation in the second Finance Bill 2017 introduces greater flexibility for companies in their use of carried-forward losses from April 2017, including group relief.
Simplified arrangements enable a nominated company to make claims on behalf of other members of a group. Companies that have already applied to use simplified arrangements for group relief will have to make a further application in respect of carried-forward losses after these amendments come into force.
The draft Corporation Tax (Simplified Arrangements for Group Relief) (Amendment) Regulations 2017 are open for consultation until 13 November 2017. See http://bit.ly/2hHK58z.
HMRC is consulting on draft regulations amending the rules on simplified arrangements for group relief claims, to include carried-forward losses. Current rules on group relief only allow losses to be surrendered for the year in which they arise.
HMRC is consulting on draft regulations amending the rules on simplified arrangements for group relief claims, to include carried-forward losses. Current rules on group relief only allow losses to be surrendered for the year in which they arise. Legislation in the second Finance Bill 2017 introduces greater flexibility for companies in their use of carried-forward losses from April 2017, including group relief.
Simplified arrangements enable a nominated company to make claims on behalf of other members of a group. Companies that have already applied to use simplified arrangements for group relief will have to make a further application in respect of carried-forward losses after these amendments come into force.
The draft Corporation Tax (Simplified Arrangements for Group Relief) (Amendment) Regulations 2017 are open for consultation until 13 November 2017. See http://bit.ly/2hHK58z.
