UK HMRC has published a second tranche of draft guidance on the application of the legislation for the reform of Corporation Tax loss relief that is included as part of the second Finance Bill for 2017 (Finance Bill 2017-19), which is currently before the House of Lords. The guidance covers:
- Relaxation of non-trade deficits from loan relationships;
- Relaxation of non-trading losses on intangible fixed assets;
- Relaxation of UK property business losses;
- Relaxation of expenses of management of …