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UK Publishes Draft Legislation on Corporate Interest Restrictions and Relief for Carried-Forward Losses

|Proposed Changes|United Kingdom
United Kingdom

UK HMRC has published draft legislation for provisions that will form part of the Finance Bill 2017 concerning corporate interest restrictions and relief for carried-forward losses.

Corporate Interest Restrictions

This legislation introduces a restriction on the amount of interest and other financing amounts that a company may deduct in computing its profits for Corporation Tax purposes. Interest deductions will be limited using a recommended Fixed Ratio Rule or an optional Group Ratio Rul…

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