Tax Law Rewrite - draft legislation

We have published a response document (PDF 265K) which contains a summary of the comments received on the draft Bill. The document also shows how we have dealt with the comments received.

The Tax Law Rewrite project has published the first Corporation Tax Bill (Bill 5) for a final round of public consultation. The consultation period ended on 23 May 2008.

Use these links to get to the:

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.