Corporate Interest Restriction
As part of the United Kingdom’s ongoing commitment to the OECD’s Base Erosion and Profit Shifting (BEPS) initiatives, the Finance Bill 2017 introduced draft legislation containing rules to restrict the amount of interest expense that companies can deduct with effect from 1 April 2017. The most recent amendments to the draft legislation were published on 26 January however there are likely to be further refinements prior to the rules coming into force.