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GROUP RELIEF FOR CARRIED FORWARD LOSS CLAIMS

Finance Bill 2018-19 removes the unexpected restriction on the group relief carried forward claim where company’s relevant profits do not exceed the deductions allowance available. Under the existing legislation, the deductions allowance may inadvertently limit the amount of relief claimable in such a scenario.

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STRUCTURES AND BUILDINGS ALLOWANCES

Finance Bill 2018-19 introduces a new capital allowance pool for qualifying expenditure on structures and buildings. Companies will be able to claim a writing down allowance at 2% of qualifying expenditure on a straight line basis.

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