Corporation Tax Loan Relationships – Draft Guidance on Debt-buy Backs
HMRC published draft guidance on the recent changes (contained in Finance Act 2010, Sch. 15) to the corporation tax rules on releases of debt by connected companies. HMRC are requesting all comments on the draft guidance be submitted by 28 May 2010. The guidance is available at http://www.hmrc.gov.uk/drafts/draft-changes-debt-buy-back.pdf.