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UK Publishes Draft Finance Bill 2018-19 for Consultation

09 July 2018

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Proposed Changes

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United Kingdom

The U.K. government has published the draft Finance Bill 2018-2019 for consultation. Some of the main measures of the Bill are as follows: Changes to the Corporate Interest Restriction Rules Technical amendments are made to the Corporate Interest Restriction (CIR) rules to ensure the regime works as intended. Changes to the Reform of Loss Relief Rules Amendments are made to the reformed loss relief rules to correct a defect in the legislation that may lead to excessive relief being allowed. The same amendments also have the effect of bringing the treatment of basic life assurance and general annuity business profits...