Reasonable dating rules

This measure is not expected to have any significant macroeconomic impacts.

A behavioural adjustment is made to reflect groups finding ways to mitigate the impact of this measure.

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Each standalone company or group will be entitled to a £5 million annual allowance.

Profits within the allowance will not be restricted, ensuring 99% of companies are unaffected by the restriction.

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As such, it is very unlikely that there will be any impact on equality.

This measure is expected to have a significant impact on businesses within the charge to UK .

The measure is not expected to impact on individuals, households or family formation, stability or breakdown because it applies only to companies.

This measure concerns the taxation of companies, which have no protected characteristics in law.

The measure will modernise the UK’s loss relief regime by increasing the flexibility over the profits that future carried-forward losses can be relieved against whilst ensuring that businesses pay tax in each accounting period that they make substantial profits. The government consulted on the measure from 26 May to 18 August 2016, and will publish its official response to the consultation on 5 December 2016.

The reforms will have effect for accounting periods ending on or after 1 April 2017.

Any profits or losses of a company with an accounting period straddling 1 April 2017 will be allocated into notional periods falling before and after that date on a time apportioned basis or, if this does not give a just and reasonable result, on a more just and reasonable basis.

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