Changes to Corporate Loss Relief

As part of the UK Government’s ‘business roadmap’ there will be some significant changes to the corporate tax loss relief system from 1 April 2017.

Historically profits and losses were reported on a schedular basis, with different types of profits and losses generally kept separate in terms of offset, particularly once they were carried forwards. From a group perspective once losses were carried forwards generally speaking they could only be used by the same company. Whilst the schedular system itself was dismantled some years back the underlying mechanics were not. Read more by downloading our PDF below.