UK HMRC has published draft legislation for provisions that will form part of the Finance Bill 2017 concerning corporate interest restrictions and relief for carried-forward losses. Corporate Interest Restrictions This legislation introduces a restriction on the amount of interest and other financing amounts that a company may deduct in computing its profits for Corporation Tax purposes. Interest deductions will be limited using a recommended Fixed Ratio Rule or an optional Group Ratio Rule. The Fixed Ratio Rule will limit the amount of net interest expense that a worldwide group can deduct against its taxable profits to 30% of its taxable...