TaxCorporate TaxLloyds Group win huge government tax concession

Lloyds Group win huge government tax concession

Asset deal with the government secures potential tax loss offsetting for Lloyds Group

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.

Related Articles

RBS chief Stephen Hester says banks should pay higher taxes

Corporate Tax RBS chief Stephen Hester says banks should pay higher taxes

7y David Jetuah, Reporter
Debt buy-backs hit by tax rule change

Corporate Tax Debt buy-backs hit by tax rule change

8y Kevin Reed, Writer
RBS fights Treasury over bonuses paid offshore

Corporate Tax RBS fights Treasury over bonuses paid offshore

9y Judith Tydd, Writer
Lloyds accused of tax avoidance

Administration Lloyds accused of tax avoidance

9y Accountancy Age, Reporters