Ends 23 May 2008
The Tax Law Rewrite project has published the first Corporation Tax Bill (Bill 5) for a final period of public consultation, which will end on 23 May 2008.
The Draft Bill contains rewritten legislation for the following:
- the basic corporation provisions including the charge to tax, accounting periods and provisions relating to company residence;
- provisions relating to trading and property income and income from other sources;
- special provisions for companies affecting the computation of income, such as those for loan relationships, derivative contracts and intangibles; and
- provisions governing particular types of expenditure, for example, expenditure on research and development and films.
The draft bill, explanatory notes and a table of origins and destinations can be found here.
The second and final draft Corporation Tax Bill (Bill 6) is expected to be published in February 2009.
