HMRC publish draft guidance on the Simplification review of capital gains rules for groups of companies
HMRC have now published draft guidance to accompany the draft legislation and consultation response document published in December in relation to the above simplification review.
The draft guidance has been provided in the format that it will appear in, once finalised, in the relevant sections of the Capital Gains tax manual.
The guidance covers changes to:-
- the degrouping charge;
- losses following a change of ownership; and
- the value shifting rules
The draft guidance can be found at http://www.hmrc.gov.uk/budget-updates/autumn-tax/simp-review-draft-guidance.htm and the draft legislation at http://www.hmrc.gov.uk/budget-updates/autumn-tax/clauses-explan-notes.pdf