
News – 13.03.25
Electronic Sales Suppression (ESS) Campaign
HMRC is ramping up action on ESS tool users. Stay updated on key developments, impacts, and necessary next steps for you or your clients. … Read more
Insight – 10.03.25
Essential COFA tips for stronger financial compliance
All SRA law firms need a COFA, but smaller firms may find the role challenging. Here are key insights to help navigate it. … Read more
Upcoming event – 22.05.25
Charity SORP update webinar
Book to attend our Charity SORP update webinar today … Read more
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The measure will effect large companies that pay Corporation Tax and have carried-forward capital losses which plan to be used to offset chargeable gains accruing on or after 1 April 2020.
Transitional arrangements will apply where an accounting period straddles the above date.
A Corporate Income Loss Restriction (CILR) for carried-forward income losses was introduced in 2017 which included an allowance that the first £5 million of profits per group could be offset with carried-forward losses before the 50% restriction is applied. The steps for computing the CILR will be amended to facilitate the capital loss restriction and enable the sharing of the £5 million deductions allowance which forms part of the CILR.
If you are a large company for corporation tax purposes and have carried forward capital losses, then please come and speak to us about the applicability of the new measures.
Read more on the Budget here.
The measure will effect large companies that pay Corporation Tax and have carried-forward capital losses which plan to be used to offset chargeable gains accruing on or after 1 April 2020.
Transitional arrangements will apply where an accounting period straddles the above date.
A Corporate Income Loss Restriction (CILR) for carried-forward income losses was introduced in 2017 which included an allowance that the first £5 million of profits per group could be offset with carried-forward losses before the 50% restriction is applied. The steps for computing the CILR will be amended to facilitate the capital loss restriction and enable the sharing of the £5 million deductions allowance which forms part of the CILR.
If you are a large company for corporation tax purposes and have carried forward capital losses, then please come and speak to us about the applicability of the new measures.
Read more on the Budget here.
If you have a query about any of the topics mentioned in this article, please fill in the form below and one of our experts will be in touch.
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