Policy paper

Corporation Tax: loss refresh prevention

This Tax Information and Impact Note is about carried forward Corporation Tax trading losses, non-trading loan relationship deficits, and management expenses.

Documents

Details

This measure will prevent companies from obtaining a tax advantage by entering contrived arrangements to convert brought forward reliefs into more versatile in-year deductions. It covers carried forward corporation tax trading losses, non-trading loan relationship deficits, and management expenses. It will have effect for Corporation Tax in the calculation of companies’ taxable profits for accounting periods beginning on or after 18 March 2015.

Published 18 March 2015