UK HMRC has published draft guidance on the application of the legislation for the reform of Corporation Tax loss relief, which will be included in the UK's second Finance Bill for 2017 to be introduced in autumn 2017. The main changes in loss relief rules include relaxing the restrictions on which losses can set off which income/profit, and limiting the off set of carried forward losses to 50% of profits per year exceeding GBP 5 million. Click the following link for the draft guidance consultation page. Comments are due by 25 September 2017.