Overview

There has been a flurry of consultation documents and exposure drafts issued over the last month or so. This newsletter from Ashurst focuses on three: the bank levy, the FSA's remuneration code and the new proposed IFRS standard on leasing.

Updated HMRC guidance on debt-for equity swaps:

Recent restructurings have made us appreciate the fairly benign UK tax regime for borrowers under debt for-equity swaps, particularly by comparison with, say, Germany for example. However, there have been some recent murmurings from HMRC and now some new guidance which, together with the new-ish debt buy-back rules, is beginning to make some of these transactions more difficult.

To read on click ‘View Briefing’