UK Banks Fear Loss of Bad Debt Tax Relief

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00004266-uk-banks-fear-loss-of-bad-debt-tax-relief/

Fears that UK banks could lose tax relief on bad debt provisions resurfaced on Friday ahead of next week’s pre-budget report, but sources familiar with the matter said the long-running dispute could run for some time.

A report on Friday said UK Chancellor Gordon Brown could scrap the tax relief banks get on bad debt provisions in his annual pre-budget report on Monday.

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