On 21 July 2020, the United Kingdom (UK) Government published draft clauses for the next Finance Bill (Finance Bill 2020-21). The Government has previously confirmed that Finance Bill 2020-21 will be introduced to Parliament following the Autumn Budget (the date of which is still to be confirmed).From a corporation tax perspective, two minor changes to the corporate interest restriction (CIR) legislation are proposed. Under one of these, the CIR rules would be amended to ensure that no penalties arise for the late filing of an interest restriction return if there is a reasonable excuse for the failure – this change is intended...