On 21 July 2020, the United Kingdom (UK) Government published draft clauses for the next Finance Bill (Finance Bill 2020-21). The Government has previously confirmed that Finance Bill 2020-21 will be introduced to Parliament following the Autumn Budget (the date of which is still to be confirmed).
From a corporation tax perspective, two minor changes to the corporate interest restriction (CIR) legislation are proposed. Under one of these, the CIR rules would be amended to ensure that no…