Policy paper
Corporation Tax: extending carried forward loss allowance to savings banks established under the Savings Bank (Scotland) Act 1819
This tax information and impact note extends the carried-forward loss allowance to savings banks established under the Savings Bank (Scotland) Act 1819.
Documents
Details
At Autumn Statement 2014, the government announced a restriction on the amount of profit that banks and building societies can offset by carried-forward losses. This restriction took effect from 1 April 2015 and included a £25 million allowance for the building societies sector. This measure extends the allowance to savings banks in the same way as it currently applies to building societies.
Updates to this page
Published 8 July 2015