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News and Updates

Extended Loss Carry Back for Business – Claims information for Companies

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The Extended Loss Carry Back measure announced at Budget enables companies to make claims to carry back losses for a further two years than current rules allow. This temporary extension applies for losses arising in accounting periods ending between 1 April 2020 and 31 March 2022.

Corporate Interest Restriction Returns: introducing our new Application Programming Interface (API)

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Corporate Interest Restriction (CIR) legislation became effective from 1 April 2017 and applies to corporate entities. HMRC has developed an Application Programming Interface (API) for submitting Interest Restriction Returns (IRR) and for reporting company appointments and revocations. This will be available for use from June 2021.

Have Your Say on Tax on Offshore Income and Gains and International Debt

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This week, we would like to talk about tax on offshore gains and income. We want to hear your views on how HMRC can tackle the tax gap on offshore income and gains. You can tell HMRC what you think by emailing consult.nosafehavens@hmrc.gov.uk at any point before 15th June.

Update on our work to help your clients better understand compliance checks

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Following our previous update in December, we have continued our work on helping customers better understand what to expect during a compliance check.
We have now added a new video ‘Help if you can’t pay your tax bill’ to our compliance checks video series.