Insurance Post

Budget 2016: Insurers could be hit with higher tax under losses restriction

tax-coins
New tax restrictions for firms with profits over £5m

Firms with profits over £5m will be restricted in the amount of taxable profits they can offset as losses carried forward, according to an announcement in yesterday’s (16 March) Budget.

In his speech, Chancellor of the Exchequer George Osborne said the government will "modernise the way we treat losses."

"We'll do what other countries do and restrict the maximum amount of profits

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe

You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Post? View our subscription options

Register

Want to know what’s included in our free registration? Click here

Already have an account? Sign in here

This address will be used to create your account
Most read articles loading...

You need to sign in to use this feature. If you don’t have an Insurance Post account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here