Policy paper
Surcharge on banking companies for transferred-in losses
This Tax Information and Impact Note is about a new rule relating to bank surcharge rules for intra-group transfers of capital losses.
Documents
Details
This measure applies to allowable losses deducted from banks’ chargeable gains accruing on disposals made on or after 11 March 2020. It makes sure that surcharge profits are not reduced by capital losses surrendered by non-banking companies in the same group.