Legal News

Creating a flexible loss relief regime

Published on: 29 July 2016
Published by: LexisPSL
  • Creating a flexible loss relief regime
  • Original news
  • What is the background to this consultation and the current rules?
  • What is the government broadly proposing and what is it trying to achieve?
  • How does this tie in with the Office of Tax Simplification's (OTS) project on the corporation tax computation?
  • How will a group be defined for these purposes and how will the rules apply to consortia?
  • Are any additional anti-avoidance rules being proposed?
  • Is there any detail on how the rules will interact with the new restriction on the deductibility of corporate interest?
  • What is the government proposing for carried forward losses of banks?
  • Do you think the suggestions in the consultation document achieve the government's aims?

Article summary

Tax analysis: Complex arrangements governing tax relief on corporation tax losses may be overhauled, with a simplification promising significant advantages to smaller businesses in particular. Pete Miller, of The Miller Partnership in Leicester, explains how the consultation fits within the broader landscape of corporate tax. or take a trial to read the full analysis.

Popular documents