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