Companies and losses
Unfortunately the Government is committed to introducing the loss relief changes originally introduced in their business tax roadmap. Whilst there is not yet very much detail on the changes, they are important.
Broadly it appears that relief for losses arising after 1 April 2017 will be much more flexible in terms of offset on a group basis and against different forms of income. However, the flexibility carries a price, from 1 April 2017 there will be a 50% restriction on offset of losses where profits exceed £5 million on a group wide basis.
Date: 24th November, 2016
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