Relief for income tax losses
LITRG welcomes HMRC’s commitment to a fairer, simpler tax system. This response highlights our concerns about HMRC’s proposals to restrict relief for income tax losses. We are concerned that such a broad brush approach will mean those who make genuine business losses will be penalised and recommend that HMRC devise proposals that focus only on those who are actively engaged in high risk avoidance schemes.
To see the full LITRG response please use the link below.
Contact: Victoria Todd (please use form at http://www.litrg.org.uk/ContactUs)