Weekly roundup of HMRC manual changes: 15 May 2023

Published on: 15 May 2023

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Article summary

15 May 2023 - This roundup sets out the most important changes to HMRC manuals over the past week as curated by our editors.

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

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Owner-Managed Businesses

Definition of a close company

Definition of a close companyThe detailed definition of a close company is set out below, but in summary the rules are targeted at those companies where the owners can manipulate the activities of the company to influence their own tax position. Therefore, broadly speaking, in most cases an

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Corporation Tax

Carried-forward losses restriction

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Corporation Tax

Terminal trading loss relief

Terminal trading loss reliefTerminal loss relief for trade losses in the final 12 monthsTrading losses incurred by a company in the final 12 months leading up to the discontinuance of trade may be carried back for up to three years from the period beginning immediately before that 12-month period.

14 Jul 2020 13:49 | Produced by Tolley Read more

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