The second tranche of HMRC guidance on the reform to the corporate loss relief rules has been published in draft.
HMRC have published their second tranche of guidance on the reform to the corporate loss relief reform. This tranche of the guidance focuses on group relief for carried forward losses (but does not deal with claims by consortium members) and the relaxation of carried-forward non-trade losses. It also includes details on the administrative requirements of making claims for loss relief, and some guidance on the corporate loss targeted anti-avoidance rule (TAAR). The guidance is open for consultation until 5 January 2018, and will be updated as necessary following comments received.
The draft guidance can be found here.
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