We have submitted a response to the HM Treasury consultation paper which discusses a cap on deductibility of interest expense against UK corporation profits to bring UK practice in line with other OECD countries and make it less attractive for groups to accumulate their debt within the UK. This is part of the OECD Base Erosion and Profit Shifting (BEPS) project to modernise and harmonise tax rule and eliminate aggressive tax planning by multinational enterprises. The the HM Treasury consultation paper can be found here and the ACT's response is attached below.
