On 6 November, HMRC published a second set of draft guidance on the new regime for corporation tax loss relief, which will be introduced by Finance (No.2) Bill 2017. The new draft guidance, which is out for consultation, follows on from that released in July and is mainly centred on group relief for carried forward losses and the new, more relaxed regime for the use of carried-forward non-trade losses.  Comments on the draft guidance need to be submitted by 5 January 2018.