Andrew Tyrie MP, Chairman of the Treasury Committee, has written to the Chancellor asking him to clarify whether banks can offset the costs of fines, and other payments they make at the behest of regulators, such as conducting skilled persons reviews, against their corporation tax bill. He says clarification by the Chancellor is needed to ensure that the intentions of the statutory change, announced in the Budget, are fully reflected in the tax treatment of fines for misconduct. (Source: Treasury Committee Seeks Clarity on Tax Deductibility of Fines)