Draft regulations relating to offshore funds HM Revenue & Customs (HMRC) has published a draft Statutory Instrument to amend The Offshore Funds (Tax) Regulations 2009 and Explanatory Memorandum, for comment by 31 May 2013.
Draft regulations for investment trust companies HMRC has published a draft Statutory Instrument to amend The Investment Trust (Approved Company) (Tax) Regulations 2011 and Explanatory Memorandum, for comment by 28 May.
Draft guidance on the proposed changes to tax rules for Unauthorised Unit TrustsHMRC has published draft guidance on proposed changes to the tax rules for Unauthorised Unit Trusts for comment by 28 February 2013.
Patent Box draft Statutory Instrument consultation (PDF 15K)HMRC has published a draft Statutory Instrument for comment by 4 December 2012.
Patent Box draft Explanatory Memorandum (PDF 29K)HMRC has published a draft Explanatory Memorandum for comment by 4 December 2012.
Draft guidance on the anti-avoidance rules for leasing HMRC has published draft anti-avoidance chapters of the Business Leasing Manual for comment by 31 December 2012.
Controlled Foreign Company and permanent establishments - draft guidance Draft guidance for the new Controlled Foreign Company (CFC) rules. This is draft guidance on Chapter 3, 4, 5 and 9 of Schedule 20 to Finance Bill 2012, which contains the draft legislation for the new CFC rules, and some amendments to the rules for the exemption of foreign permanent establishments that will apply to CFCs and foreign permanent establishments with accounting periods that begin on or after 1 January 2013.
Corporation Tax Loan relationships: deemed releases of connected company debt: new Technical Note (PDF 66K) A second Technical Note on amendments to the loan relationships legislation on deemed releases of debt held between connected companies has been issued. It includes the legislation published in Finance Bill 2012, together with Explanatory Note, and explains the changes made to the draft legislation issued on 27 February 2012. The Technical Note also contains draft guidance for inclusion in HMRC's Corporate Finance Manual.
Draft investment trust companies guidance update for the Company Taxation Manual (PDF 106K) HMRC has published draft guidance for comment on the new rules for investment trusts that came into force on 1 January 2012 for accounting periods commencing on or after that date.
Corporation Tax Loan relationships: deemed releases of connected company debt (PDF 81K) A Technical Note on amendments to the loan relationships legislation on deemed releases of debt held between connected parties has been issued following a Written Ministerial Statement (Opens new window) by the Exchequer Secretary to the Treasury on 27 February 2012. The Technical Note includes draft clauses for Finance Bill 2012 together with a draft Explanatory Note and Tax Information and Impact Note.
Manufactured Overseas Dividends (PDF 27K) HMRC has issued, for informal consultation, draft regulations to facilitate stock lending of overseas securities via central counterparties.
Investment trusts - Technical Note HMRC has issued, for informal consultation, draft regulations which deal with the approval of companies as investment trusts and the treatment of transactions entered into by investment trusts.
Debt Cap (PDF 18K) Draft regulations to adjust the available amount for a mismatch between the accounts amount and tax amount have been published for external comment.
Bank Levy Draft legislation covering HM Revenue & Customs collection and management of the Bank Levy, along with explanatory notes and a supporting technical note, have been issued following the Written Ministerial Statement by the Financial Secretary to the Treasury on 21 October 2010.
Debt Cap Draft regulations extending the categories for available amount in section 332 TIOPA 2010 have been published for external comment.
Loan relationships and derivative contracts: group mismatches Proposals for changes to the Corporation Tax rules on loan relationships and derivative contracts to counter avoidance schemes using group mismatch arrangements.
Loan relationships and derivative contracts: derecognition Proposed changes to the loan relationships and derivative contracts rules on amounts not fully recognised for accounting purposes.
Loan relationships and derivative contracts - changes in accounting standards Draft legislation relating to changes in Corporation Tax rules on loan relationships and derivative contracts arising from proposed amendments to International Accounting Standard 39.
Rules on manufactured payments (Opens new window) Draft legislation and explanatory note relating to manufactured payments as announced in a written ministerial statement by the Financial Secretary to the Treasury on 9 February 2010 is now held on the National Archive website.
Rules on debt buy backs (Opens new window) Draft clauses for Finance Bill 2010 setting out amendments to the Loan Relationships legislation in Part 5 of the Corporation Tax Act 2009 (CTA) relating to the tax rules where companies buy back debt they have issued is now held on the National Archive website.
Action to prevent avoidance of tax by individuals and companies (Opens new window) FST announce new rules that will prevent sideways relief and capital gains relief ('sideways loss relief') from being given for a loss from a trade, profession or vocation where the loss arises from tax avoidance arrangements is now held on the National Archive website.