UK HMRC has launched a public consultation on proposed rules for a restriction on the offset of carried-forward capital losses as announced as part of the Budget 2018 ({News-2018-10-30/P/5-previous coverage}). The period for comment on the proposal ends 25 January 2019. Under current rules, capital losses are set off against capital gains for the year, with excess gains subject to corporation tax and excess losses carried forward indefinitely to be set off against future gains. For companies in a group, capital gains or losses in an accounting period may also be transferred to another company within the group. Effective 1...