Budget 2016: Corporate tax changes aimed at banks could impact insurers offsetting losses
Insurers hit by rises in claims as a result of the recent floods and increases in insurance premium taxes will also now face corporate tax changes that will affect them offsetting losses.
Firms with profits of more than £5m will be restricted in the amount of taxable profits they can offset as losses carried forward from 1 April. Chancellor of the Exchequer George Osborne said the move
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