The government is consulting until 9 September 2015 on draft amending regulations (The Taxation of Regulatory Capital Securities (Amendment) Regulations, SI 2015/Draft) to ensure that ‘Solvency II’ compliant instruments issued by insurers and other financial institutions in the form of debt are subject to income tax under the loan relationships rules. The regulations also take account of changes to the treatment of corporate debt and derivative contracts introduced by Schedule 7 to Finance (No 2) Bill 2015. These changes will take effect from 1 January 2016, subject to transitional provisions. See www.bit.ly/1OjwcpY
The government is consulting until 9 September 2015 on draft amending regulations (The Taxation of Regulatory Capital Securities (Amendment) Regulations, SI 2015/Draft) to ensure that ‘Solvency II’ compliant instruments issued by insurers and other financial institutions in the form of debt are subject to income tax under the loan relationships rules. The regulations also take account of changes to the treatment of corporate debt and derivative contracts introduced by Schedule 7 to Finance (No 2) Bill 2015. These changes will take effect from 1 January 2016, subject to transitional provisions. See www.bit.ly/1OjwcpY
