Income tax loss relief proposals put on hold

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AccountingWEB.co.uk
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Plans to restrict income tax loss reliefs have been put on hold after responses to the consultation document were published earlier this week.

HMRC said the consultation generated “many thoughtful, informative and constructive responses”.

It has also decided it will now monitor the effect of several policy initiatives to tackle avoidance before considering whether to proceed with measures put forward in the June 2011 consultation to counter avoidance involving income tax loss reliefs.

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06th Aug 2012 15:46

A WARNING - Don't Relax!!!

It would be advisable if Accountingweb were to alert members that this is LAST YEAR'S proposal - it has been put on the back burner BUT...

THIS IS NOT THE SAME AS THIS YEAR'S CONSULTATION ON RESTRICTING TAX RELIEFS (INCLUDING LOSSES) TO £50,000 or 25% OF INCOME.

That is a completely different consultation and closes on 5 OCTOBER.

 

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