Market leading insight for tax experts
View online issue

The proposals on corporate debt and derivative contracts

Speed read

HMRC is now consulting on simplifying the patchwork of rules concerning the taxation of corporate debt and derivative contracts, with a view to legislating in Finance Bill 2014 and Finance Bill 2015. Whilst there is clearly scope for simplification and improvement of the existing rules, the consultation introduces further potential uncertainty at a time when many corporates have projects underway to cope with changes to the accounting regime caused by the impact of the imminent transition to FRS 101 and FRS 102. Taxpayers and their advisers should get fully involved in the consultation process as early as possible.

If you are not a subscriber, subscribe now to read this content.
If you are already a subscriber, sign in
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.