On 9 December 2015, HMRC published a consultation document entitled Company distributions, together with draft legislation to amend the transactions in securities rules in Chapter 1 of Part 13 of ITA 2007 and to introduce a targeted anti-avoidance rule (TAAR) to prevent certain distributions in a winding-up being treated as capital distributions. The consultation document requests comments on the proposed changes and canvasses views on whether wider reform may be desirable.
On 9 December 2015, HMRC published a consultation document entitled Company distributions, together with draft legislation to amend the transactions in securities rules in Chapter 1 of Part 13 of ITA 2007 and to introduce a targeted anti-avoidance rule (TAAR) to prevent certain distributions in a winding-up being treated as capital distributions. The consultation document requests comments on the proposed changes and canvasses views on whether wider reform may be desirable.
On 9 December 2015, HMRC published a consultation document entitled Company distributions, together with draft legislation to amend the transactions in securities rules in Chapter 1 of Part 13 of ITA 2007 and to introduce a targeted anti-avoidance rule (TAAR) to prevent certain distributions in a winding-up being treated as capital distributions. The consultation document requests comments on the proposed changes and canvasses views on whether wider reform may be desirable.