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Carry Forward of Tax Losses: Business Continuity Test
As foreshadowed in April 2020, the Government is set to bring in a “business continuity test” which will operate in conjunction with the existing shareholder continuity test in relation to the carry forward of tax losses. Legislation will be introduced as a Supplementary Order Paper to the existing Tax Bill before Parliament.
39% Tax Rate: The Clock is Ticking
The top tax rate is set to increase to 39% from 1 April 2021 and if you haven’t already, now is the time to start planning for its introduction.