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09 Mar 2009
The government could lose out on billions of pounds after Lloyds Banking Group agreed a deal to be able to offset losses on loans against its taxable income.
The group will be able to offset losses on loans covered by the government's asset protection scheme, which limits its losses on bad loans, reports the Daily Mail.
RBS had already joined the scheme and is unable to offset its losses.
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Visitor comments Add your comment
CT by dummies?
RBS gets one set of tax rules and Lloyds another? How come when it is same thing? And how come they get this all agreed in advance of sending in their ct600!
Posted by: M Swallow, 09 Mar 2009 | 00:00