HM Treasury consultation on delivery of reforms to corporation tax loss relief

ACCA responds to HM Treasury consultation, 'reforms to corporation tax loss relief: consultation on delivery'


In the light of current economic uncertainty, arising both as a result of a general slowdown in the global economy and the recent referendum vote to leave the European Union, it is of paramount importance that the UK demonstrates that it remains an attractive location for businesses. 

We consider that the introduction of loss restrictions and additional complexity in the management of tax attributes may discourage investment by the largest businesses at this crucial time. We would strongly urge the Government to reconsider the timing of the proposed changes to timing of loss relief, which will disproportionately affect the largest businesses whose continued stability and profitability will be essential bedrock for the future economic security of the country.