UK Spring Budget 2017: Deductibility Of Corporate Interest Expense

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Source: Article by Deloitte LLP, 9th March 2017

“Following the publication of draft legislation to limit the UK tax deductions that companies can claim for their interest expenses (as announced at Budget 2016), the government have announced a small number of changes which will be reflected in Finance Bill 2017 to avoid certain unintended consequences or impose unnecessary compliance burdens.

These amendments will be beneficial to a number of groups including:

  • those with losses in some years, including start-ups, which move into profit;
  • infrastructure groups;
  • groups with inter-company guarantees;
  • banks; and
  • insurers.

The changes will be reflected in Finance Bill 2017, when it is released on 20 March 2017, and will come into force when the interest restriction legislation takes effect from 1 April 2017.

For more detail see the source article here

 

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