On 8 September 2017, the provisions withdrawn from the Finance Bill 2017 that went on to receive Royal Assent before this year’s general election, were re-introduced and published as Finance (No.2) Bill 2017.
Of particular interest are the provisions providing for:
• corporation tax loss reform (in respect of which draft guidance1 was published by HMRC on 31 July 2017)
• new rules on interest deductibility (in respect of which further draft guidance2 was published by HMRC on 4 August 2017), and
• changes to the substantial shareholding exemption (SSE) regime
which are in each case due to take effect from 1 April 2017.
The Bill as published can be viewed here.